Cisco will layoff 10k ppl.
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I once asked my manager about a stealth layoff in another department. She replied, we don't like talking about those in a passive aggressive manner.
Prediction: big layoff will happen if transforming to service/sw business complete , of course HW still there but change the model
How Cisco culture is changing... One of the GM had her all-hands meeting yesterday and no mention of layoff that took place previous day. God save Cisco from these fake leaders!
Cisco lays off even during a good year, when they are making money. They layoff in a division even when it makes money.
10k could be entire year. We will have another round of layoffs in Q4.
New layoffs coming!..... https://www.wsj.com/articles/cisco-plans-new-round-of-layoffs-11582850738
News just out they are going to cut 150M in March....not all 300M. So that is about 1500 to 2000 world wide. Not sure by when affected folks will be informed.
OK, here is a bit of info, I work in Finance and we typically use $80K to $100K as gauge on the cost of a single headcount layoff. So, you can extrapolate from here, if they are talking at 150M cost associated with layoffs in this Q then you are looking at about 1500 to 2000 heads axed. Similarly, at 300M (for the year) you are looking at 3K to 4K heads rolling.
So, no, it's not 10,000...
at 3K (average estimate) it' still big but we've seen worse.
Source: OP's Imagination
Max 3k is make more sense
It’s $300m total and $150m in this quarter. That means about 3K max this quarter. Of course, a good Coronavirus crisis would be an excellent chance to pump out the bilges and report a truly silly number next earning call. I’ve heard double digits redundancies from serious people and I believe them. It will not happen in one day, because it takes a while to bullet that many people. But it will happen.
Oh yeah, I heard it was 50 thousand people.
Get real.
If revenues keep on sliding down, Cisco can LR people at anytime and claim the restructuring costs in this quarter or Q4. Looks like the Corrana virus has scared everyone. Well, I hope I don't catch this virus. I been WFH since last week.
300 million is for this quarter but firing is ongoing activity. No one's what is the impact of coronavirus on Cisco revenue.
not for a mere 300m. last big one was 400 mill and about 5.5 k people if I recall.
Not going to happen. You mean "at some point......"? Probably in the history of time, correct.
Source?