Thread regarding Cisco Systems Inc. layoffs

Revenue will be down, blame Wuhan Virus

Chuck is going to blame the Wuhan Corona virus for missing Q2's earnings target.
Expect an official LR announce of about 8-10%. This time Chuck will have a valid reason to cut heads

If you are in Sales, Engineering or support legacy platforms/tech, expect to hear bad news.

Everyone on my team is just busy updating their resumes and checking external job boards.
This LR will be a game changer.
Even my mgr who used to arrive early at work shows up around 10 am. I guess he has been tipped off about impeding hurricane.

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Post ID: @OP+13sh9pKP

13 replies (most recent on top)

Got a 1:1 invite late last night. In SP eng. Anyone else got one?

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Post ID: @2ffw+13sh9pKP

Cheap money won’t make the workers go back to their factories. I’m hearing iPhone production is already in big problems and on restricted allocation. All the stats I’ve seen from China show economy is FLATLINED.

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Post ID: @1eqy+13sh9pKP
  • To combat a potential economic slowdown amid the outbreak, Chinese policymakers have taken major steps to restore investor confidence and boost business activity. Fiscal and monetary policies put in place over the past couple weeks include injections of cash by the central bank, tariff exemptions and targeted reserve requirement cuts.— Rattner, Li
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Post ID: @1luh+13sh9pKP

Q3 Revenue Guidance: -1.5% to -3.5% decline year over year.
Does this imply a 4% cut in headcount?

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Post ID: @1duz+13sh9pKP

Let's see what our Chuck will say.

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Post ID: @1fxp+13sh9pKP

Chuck is not gonna wait till August to stem this financial bleeding. Head chopping will happen here and there till the ship stabilizes.

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Post ID: @1vtq+13sh9pKP

Agree with most of this. Numbers are bad but internally at the top they are blaming internal leaders. Expect some senior people to leave to "spend more time with their families". I do expect him to blame China but it is just a disguise. I expect a little LR nor and a massive one in Aug. THat's what history has shown us.

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Post ID: @1yea+13sh9pKP

I can't imagine that large cut mid-fiscal year. A cut, yes. That large a cut would be disruptive to sales mid-year.

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Post ID: @1jvu+13sh9pKP

It has an official name #COVID19

https://en.wikipedia.org/wiki/COVID-19

COVID-19 (from coronavirus disease 2019),[2][3][4] also known as 2019-nCoV acute respiratory disease and novel coronavirus pneumonia (NCP),[1] is an infectious disease caused by the 2019 novel coronavirus (SARS-CoV-2).[5][6] It was first detected during the 2019–20 Wuhan coronavirus outbreak.[7][8] It results in flu-like symptoms,[9][10] including fever, coughing, shortness of breath, pain in the muscles and tiredness. It may result in pneumonia, acute respiratory distress syndrome, sepsis and septic shock, and possible death. There is no specific treatment, with efforts typically to manage symptoms and support functioning.[9]
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Post ID: @1pcm+13sh9pKP

This has to do with timing of our revenue reports. A lot of companies that just reported were posting results that included no January revenue. We are different - anyone reporting Jan revenue will suffer. Wait until Airline, Supply Chain/3PL companies start publishing numbers. It aint gonna be pretty.

Shenzhen is under quarantine, Guangdong's GDP will drop about 30% - most electronics and components are sourced over there. All of this started in February...

It'll be ugly.

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Post ID: @ddh+13sh9pKP

China stopped buying USA gear a year ago. Why is Cisco blaming China?
Apple/Amazon/Google/MSFT all had wonderful results. Heck, even Tesla did well. Blame Chuck for being incompetent.

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Post ID: @bao+13sh9pKP

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