What's being achieved? I thought layoffs are about cost cuts, but if you are hiring at the same time, how is that saving anything? All Cisco is doing is shuffling people around - lose ten here, hire five there and another five there. Even with the lower pay for the newcomers, this makes very little sense.
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ELT is busy lining their pockets while the pandemic is happening. Afterwards they will have to pay the worker bees.
$8 million for severance packages last quarter in the quarterly report. Maybe 100-200?
No layoffs have happened in the last 2 months. People are quitting on their own for greener pastures.
How many were laid off? I can't find any news about it.
Cisco has an "empire building" culture. Political internal fighting results in constant layoffs... make sure to align with a "leader" that can win political battles.
I think someone brought it up. When Chambers did an interview back in 2014, he told everyone that a 5% annual attrition is "healthy". "https://www.businessinsider.com/cisco-ceo-john-chambers-interview-2014-7" Since then, HR tries to purge at least 5% per year.
I was offered a FTE position in the middle of layoffs there before. A week before I was to start they said it had to be a contractor position. The day before I was to start I accepted a different FTE position at another company. I never heard so many mad managers calling me in my life. I got a call from the hiring manager and 2 others that I was going to be working with. That solidified that I made the right decision.
It gets rid of the older, more expensive and "less diverse" workers and replaces them with cheaper, younger non whites.
There weren't any layoffs....