in reality, Cisco doesn't need to layoff folks. With $11b+ cash in the bank, Cisco could weather the storm and reallocate/train employees to divisions that need them. But noooo.....that would mean mgmt would actually have to work, instead of hitting the EASY LR button.
Couldn't agree more, @fks+17jITDTS. There was a way to avoid all of this. But that would displease both the ELT and shareholders. And we, as it seems, are insignificant.
There are too many unrecoverable problems at Cisco, which start with Leadership. Lack of vision. Lack of flexibility in their business processes. Cisco has a legacy approach to the way they conduct business, but their model doesn't work anymore.
Cisco is like the Titanic; unjustifiably arrogant but incapable of navigating new markets... they can't get out of their own way! The stock is tanking for a reason.... investors see Cisco for what they are; a bunch of old "has-beens"... My advice; Get out while you can!
You’re certainly not family. Not really even staff. You’re resources, even “OPEX”.
Like if they can find power for the lab at 5c/kWH instead of 10c, they’ll take it.
It’s that simple, even if you have to shed a crocodile tear or two on TV.
That money is not in the US and they are not going to pay the taxes to bring it into the US to save US jobs.
Huh? Where have you been the last 4 years? Trump fixed that back in 2017!
Couldn’t agree more. It’s simply lazy management. Cisco lays off every year. It’s a business process now. Covid is just this years excuse to cover for the three consecutive quarters of declining revenue. Yes before Covid.
"Executives are not in place to care about the Staff. That is their management teams' responsibility. The Execs are there to grow revenue, reduce expenses, and build shareholder value. It is as simple as that. The ELT does not care about the Staff because it has almost no bearing on their compensation. Their compensation is strictly in the P&L. That is what they care about."
This deserves a repost. So true.
Reading between the lines, the ELT simply has no need to care about front line staff. They will find replacements for those who leave. Or there is a plan to break up the company and they need to reduce staff further to cut costs. It seems to me Cisco is in the middle of very detailed strategy, and frankly, the opinions of the current worker bees have little bearing on the execution of that strategy.
You can accept it, work with it, or make your own strategic plan. But what is in place today is not final form.
That money is not in the US and they are not going to pay the taxes to bring it into the US to save US jobs.
Stop giving all your cash to social justice groups and invest in your employees and products. Interesting concept.
Executives are not in place to care about the Staff. That is their management teams' responsibility. The Execs are there to grow revenue, reduce expenses, and build shareholder value. It is as simple as that. The ELT does not care about the Staff because it has almost no bearing on their compensation. Their compensation is strictly in the P&L. That is what they care about.
if you're constantly hiring & firing, you're doing something wrong. Either you're not competent at hiring the correct people (fire HR & recruiters) or you're not competent at planning (fire management) or you're not competent at creating and implementing strategies (fire ELT).
Whatever it is, it's not the fault of the people getting LR, it's incompetent management. They are not concerned with the long term health of the company (which, admittedly, most corporate management aren't), they are concerned with the short term stock health since that is where they make most of their millions. When you make 200 times more than the average employee at your company, they tend to look like ants... power corrupts...
doing what is right takes creativity empathy and intelligence all of which is non existent in leadership