“Cisco EmployeesBrace for Layoff”
I am too cheap to subscibe , did anyone read it?
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Imagine paying for being named best place to work and then having an actual party to celebrate winning it.
For the person that posted “I still don't understand how it won best place to work.” I use to think the same thing about Xilinx when I worked there. But after meeting and talking to someone in HR, the company basically pays to be listed high on the “best place to work” stuff. Xilinx spent many millions of dollars to be listed high on “best place to work”. It is a total scam but kudos to the company that gets ignorant CEOs to buy into it.
Don’t believe anything until Brad Reese has it.
I still don't understand how it won best place to work.
Yes, each year the rumor becomes true. Carry on lads.
Cisco employees are anxiously awaiting news of layoffs, which have become an annual tradition at the computer-networking giant in recent years.
“It’s a well-known fact that Cisco lays off people every year,” a current employee told Insider, adding that annual layoffs typically come in late summer or early fall. “That’s something we’ve just trained our brains to live with — just keep the CV updated and keep our eyes open.”
Cisco did not respond to a request for comment at the time of publication.
Cisco’s fiscal year ends in July, and August and September typically bring the biggest layoffs. The firm’s business has traditionally centered on selling networking switches and routers, but CEO Chuck Robbins has charted a course to transform Cisco into more of a software company, leading to ongoing upheaval among the company’s workforce.
Cisco laid off at least 3,500 employees in 2020, or roughly 4% of its global workforce, Silicon Valley Business Journal reported. In an SEC filing, the company described the layoffs as part of a “restructuring plan” that it expected to save roughly $1 billion.
Layoffs have been an annual occurrence in the years prior, too, according to the company’s filings with the state of California — it reported waves of layoffs in 2019, 2018, 2017, and 2016.
While the largest layoffs typically come in the weeks following the end of Cisco’s fiscal year, it’s also common for smaller batches of layoffs to happen throughout the year.
“There’s always smaller-scale restructuring going on here and there, and you’ll see people disappearing,” the Cisco employee said.
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The company hasn’t yet told employees about plans for layoffs in the coming months — but workers are bracing for news.
“It could happen any time, just a quiet email that appears in your inbox with ‘Confidential’ in red,” the employee said.
This is real. I saw that article in print form. VERY BAD NEWs on the way. Brace yourselves.
Fake news!