So is it over in the US or not?
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》Re charges to be recognized in 2023.
If they lay off around 3000 employees with 6 salaries severance package at 10K average salary that is around 180M The quoted repor mentions reporting 300M in 2022 and 200M in 2023 and there are some other accounts that would be at loss like RE charges etc etc I am assuming they would vacate some buildings and that would mean some fees for breaking lease contracts etc etc So no firing people will probably not continue forever not based on that report. Stop speculating , confusing people and turning this site into completely useless garbage where you vent your fears and frustrations
The rest will come towards end of January. Then on to other things!!
Only know for my team personally but our manager emailed mid day saying it was done. The laid off people had been informed, and if you were getting this email, you were safe.
EMEA is in January! Labor Laws are mire difficult to navigate. so they will get there packages in January!
So glad I jumped off that sinking ship in October. For those of you that are still left, consider leaving. Much greener pastures out there, and take a page from Twitter. If 75% of the staff goes at some point it will just serve to accelerate the inevitable. Cisco sucks.
Worst CEO needs to go ASAP
Only half the rebalancing will be completed this quarter according to their last report.
"Cisco expects to recognize approximately $300 million of these charges in the second quarter of fiscal 2023, approximately $200 million of these charges during the second half of fiscal 2023, and the remaining amount of these charges primarily through the first quarter of fiscal 2024."
In general the continuous layoff machine is up and running strong.
I understand from mgmt that the LR is all week. Some are saying we won't hear until the new year. Great communication and planning, eh?