I think the only reason we were spared so far is that the ELT was waiting to report quarterly results. If the results are not as expected, they'll immediately announce layoffs to counter the numbers. If the results are good, we'll probably be safe for another three months. Basically, tomorrow is D-Day.
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Today is the day. Call your mom and tell her I love you. Then go cry in the corner like a kid. Hasta la vista baby!
I think the only reason we were spared so far is that the ELT was waiting to report quarterly results. If the results are not as expected, they'll immediately announce layoffs to counter the numbers.
That's complete and utter BS. First, they already know the quarterly results and had a pretty good idea what they would be like before the quarter ended. Cisco has had plenty of practice figuring out what the Q4 and FY results are and if they need to do an LR. The ELT & finance guy would figure out the numbers, figure out how many cuts were needed and then push that down into the BUs to decide who and send lists up the chain for the lawyers to review to make sure that they could defend any age-discrimination claims/lawsuits and add a few token young people to offset the old folks, and then have HR prepare the paperwork for the managers to read to each impacted employee. All that takes time and they've gotten it down to the point where they can have the earnings call in the afternoon and have manager's send out 1-on-1 meeting invites immediately after then earnings call to the sacrificial lambs for first thing the next morning.
They may be waiting to report the quarterly earnings, but they're not waiting for those numbers to make any LR decisions. That stuff would have started a month ago. I won't consider myself still employed for FY23 until late evening after the earnings call and I don't have an unexpected 1-on-1 meeting invite for the morning of the 18th.
Looks like our stock price has finally decided to climb after the mid-year ESPP stock purchases on June 30. Now I get to decide whether or not I made the right decision to dump them at the close of trading on the 16th, or hold them for a few days past the earnings call for the spike in stock price after the LR announcement.
A friend attended the MIG/Enterprise All-Hands a few days ago. He told me there will be no annual layoffs anymore. Layoffs will be now "on-demand". I do not know if that is for MIG/Enterprise or the whole company.
Anyone else attended that MIG/Enterprise All-Hands and remembers the precise wording?
Great insight. Top performer are you?
Thanks captain obvious
Why are people so worried? Cisco pay is terrible by industry standards. If you get fired, it’s an opportunity to find better paying work.
LR will be there, come rain or shine.
Even if the sales are good what will revenue be like with lead times being what they are. I guess the ELT will look at costs of running the business