Smaller each year. Soon they will lay off all the people from other countries. Because most groups in Cisco are consisting of an majority of people who transition to the USA offices. And if that large if a layoff happens, there will be no severance at all. Have to keep all that offshore money in savings or another COVID year of new strains might put them through financial windfall. If stocks drop in half the investors will not allow all these payouts.
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What was the severance package this time around?
So, does anybody know the total headcount and whether it is over yet or not?
Got mine.
got the boot on friday
Confirmed
Restructuring will be on pause for sometime , but will start again in Aug/Sept time to prop up Cisco share price and show more savings to stakeholders.
Layoffs at CSCO are a regular occurrence. Just as night follows day.
Per the $60M left on the restructuring budget, that is a cut of 200-400 depending on the grade level targeted. So it's a major layoff if it is your group, but not something that is going to generate a lot of chatter on these boards.
The Q2 papers showed there is still $60m in restructuring money to be spent.
February is for stealth layoffs. Just a little off the sides and top. Not top literally unfortunately.
You can never be wrong with 2-4 weeks. Someplace in the company will lay off in that time but the large annual one will be in August/September as it is every year.
The new CFO said during the conference call that the $1 billion restructuring was largely behind us. You can tell he hasn't been at Cisco very long.
No doubt, Fran will chide him and fill him in on the Cisconian way: perpetual restructuring