I understand that Sydney is a very expensive city and wages are also high but I do wonder what was considered before the mass layoff.
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Consider only having one floor in the building and permanent wfh for all tac engineers. This would have saved a huge amount money
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Have a progressive salary cut. 5% for low income earners, 10, 15 the higher you go. There are folks with 500k+ salaries. I am sure they can afford to take a small paycut DURING A GLOBAL PANDEMIC!
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Force employees to take PTO (especially those who have months of PTO remaining)
I am sure there are alot of other ways to cut costs.
Cisco is continuing to operate the way they always have. Lose some money, panic, cost cut, layoff, repeat. This erodes customer and employee sentiment. And this is reflected in the stock price where the ath (all time high) has not been seen for 20+ years...
We're moving into a different world now - it's time to think and innovate differently.