More than 10% of Cisco's headcount will be wacked. The higher number I have heard of so far is 24% to be chopped. If you are in Sales, I feel sorry for you since the biggest wacking will take place there.
Engineering and CX wont be spared either. I almost peed in my pants when I saw the upcoming LR plan.
This will be a make-or-break LR for Cisco. If not executed properly, it will be the demise of Cisco and we will be relegated to history books the way of Blockbuster, Kodak, Nortel, just to name a few.
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Troll
Tuesday Sept 14th, I and many more like me were laid off from the CX tower at Cisco. It was mostly red badge contract engineers and recent hires. My entire team got whacked.
Just checking back after several years in the real world. Things have not changed a bit. Still toxic after all these years.
The OP might or might not be an id--t, but they do layoffs after earnings announcements (not before).
Today's the day right? OP is an absolute scare mongering loser.
Cisco doesn't have any assets left that can compete in market in meaningful way. It needs to improve its bottom line so only way to improve bottom line is by following the regular cadence of layoffs / limited structuring (whatever name you want to call). The VPs of various business units (especially WebEx) are making sure to let go anybody who they fear can challenge them. They are totally incompetent !!! I am not sure why Chuck is tolerating these VP and letting them drive WebEx (this was the only flagship product left ) product to ground . The only reason I can think off is that it is hard to attract talent to Cisco. They have incompetent management chain which doesn't want to work neither they tolerate if somebody else work. Good Luck if you work in Cisco ! At some point, we will have VPs left in US and all engineers in China, India.
Let's see.
Well I left the company. What I see is that few people with no cloud background, no software dev background and no management education continue to run the department and promoting people as unskilled as they are. Those folks sinking the company.
Good god here comes the yearly death report. Yes we will have an LR but stop the BS posts. I heard a VP talk about it. RTP is gone. Cisco to be sold Etc etc. we get this BS from people that don’t even work at Cisco every year.
Typical rumors this time of the year. Sometimes, ELT, HR, or Finance like to spread these to panic people into leaving on their own. Your will be surprised how many times this worked. However, if not enough people fall for this, then they will do a LR.
This topic is very scary. Hope nothing happens on 8/18.
This topic is very scary. Hope nothing happens on 8/18.
@pcf+1c1fgOPl
They don't layoff by site unless you are facilities. Also, you don't have to be on a pip to be let go. I know we should be managing out bottom 5% and not promoting people to director that are undeserving. Seen that several times in CX over the last couple of years and by someone who is a totally incompetent buffoon working for another one that has zero reason being a director other than PR numbers.
It amazes me how many super smart Cisco people do not take advantage of planning their 401k and IRAs.
Hopefully you've been maxing out your Roth IRA and 401k and have a good portfolio.
Did 17 years, left only as a G10, after cashing out RSUs and options; and following professional investment advice (the Cisco 401k BrokerageLink function is the BEST benefit Cisco has), I was able to retire in my early 50s. You can too.
I did come back for a brief run as a contractor but it felt like I was on Mars. The company has changed so much.
To those hanging on and waiting for that LR payout, it is a big world out there. If you are skilled you will never have to worry about work. You might regret waiting it out for the package. I was afraid to leave (raised a family at Cisco), so glad for that but should have taken advantage of opportunities outside over the years.
So much to reply to out of 11 replies:
Cisco doesn't conduct large layoffs. It would be horrible PR for the "best company to work for"
For a company that has had near annual large layoffs since 2011, they seem to keep winning, er, buying the title of best company to work for. Layoff's are now called "Limited Restructuring" to convince Wall Street that the exec's know what they're doing and that they are cutting costs, i.e. redundant people or non-profitable products, in order to generate more revenue.
It's a yawner, unless you are being impacted. And if so, you should have been able to see it coming several years ago.
I must have been blind. I saw my LR coming in 2011, but after returning I didn't see the one coming in 2016. At this point, I'd be surprised if I get caught up this year, but in another year or two, I'd expect to be targeted again.
I would be little doubtful that our friend here had the privilege of seeing the LR plan which if leaked will have few PR issues, some stock fluctuation etc. etc..
I'm VERY doubtful that our friend here had to privilege of seeing the LR plan. Everyone who's seen it so far is part of it, so why would any of them "almost peed in my pants when I saw (it)"? And if you saw it, then you'd have a better idea of the total numbers instead of some HUGE 10-24% spread.
As to handling it properly and, if not, being the demise of Cisco, that's total BS. Cisco has stopped handling the workforce reductions properly five or more years ago. Instead of getting rid of the bottom 5% like they used to via performance improvement plans (PIP's) and not having huge LR's they're now targeting older employees under the guise of being too expensive, regardless of their performance and keeping cheaper employees, also regardless of performance.
The way this was engineered last time a Warn notice did not have to be filed because it was spun as employee choice...
Actually, there did need to be a WARN notice last time, but only for the Dec '20 / Jan '21 part of it. They told everyone who was "At risk" back in /JulyAug/Sept and they could volunteer or look for internal roles. Those that didn't volunteer, and did not find different internal roles were then involuntarily impacted. That's when the WARN notice was filed.
Totally pure, 100% unadulterated fake news. Even, so called conspiracy theories have some little fringe truth. This post does not even slightest truth.
I think the only thing true is that there will be some sort of LR announced at the Q4/Year-end earnings call unless it's too small and they can make it a "stealth LR". I've been conditioned by too many earning's calls in Q4 to not expect an announcement. Remember Pavlov's dogs?
I think the worst we’ll get might be a trim of the lowest percent or two. I cannot see a major LR this year, so I think the is BS.
Totally pure, 100% unadulterated fake news. Even, so called conspiracy theories have some little fringe truth. This post does not even slightest truth. So simply ignore and move on
WARN notices are filled the day of the announcement... and only if more than 50 employees are impacted at a single location
The way this was engineered last time a Warn notice did not have to be filed because it was spun as employee choice...
I would be little doubtful that our friend here had the privilege of seeing the LR plan which if leaked will have few PR issues, some stock fluctuation etc. etc..
All, lets be careful which news we want to consume... I can start a thread that Chuck is leaving, that would just be a wishful thinking.
They have done this so many times since 2011; this is simply the expected yearly culling. If it gets above 20% then it will be interesting. More of the same. It's a yawner, unless you are being impacted. And if so, you should have been able to see it coming several years ago.
Cisco doesn't conduct large layoffs. It would be horrible PR for the "best company to work for"
What about Lawrenceville?
They file the WARN notice on August 19th and tell employees they have 30 days to find a new job internally before they are LRed. If there is a layoff, it is August 19th and will be included in the earnings call.
If such a big layoff would be happening on the 18th of August then we would already get a hint as by California law there needs to be notifications filed 30 days before. Similar rules exist for layoffs above a certain number in U.K. I call BS.
"The Day of Reckoning"??? lol