Thread regarding Cisco Systems Inc. layoffs

Still more layoffs to come

Post from q2 earnings call

(1)
On November 16, 2022, Cisco announced a restructuring plan in order to rebalance the organization and enable further investment in key priority areas. This rebalancing includes talent movement options and restructuring. Additionally, Cisco has begun optimizing its real estate portfolio, aligned to the broader hybrid work strategy. Cisco estimates that it will recognize pre-tax charges to its GAAP financial results of approximately $600 million consisting of severance and other one-time termination benefits, real estate-related charges, and other costs. These charges are primarily cash-based. We recognized $243 million of these charges during the second quarter of fiscal 2023. We expect to recognize approximately $140 million of these charges in each of the third and fourth quarters of fiscal 2023, and the remaining amount of these charges primarily in the first quarter of fiscal 2024

This has since been updated to be $200M this 4th quarter in the latest earnings call, so how many went Christmas time, the number will be similar.

by Anonymous
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Post ID: @OP+1mLPcmbM
Comment! It's anonymous!

8 replies (most recent on top)

Vice President of Operations is coming from Florida to San Jose during a busy year end. Is that a bad sign? It's been reported our numbers are low.

by Anonymous
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Post ID: @Orse+1mLPcmbM

Layoffs not if… but when. As certain as Denver winning Nba title

by Anonymous
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Post ID: @1lql+1mLPcmbM

Unibus was well and truly done by MicroVAX I - maybe they still had qbus and BI bus was a thing.

by Anonymous
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Post ID: @1lrm+1mLPcmbM

Directors and VP's have submitted their list to HR

by Anonymous
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Post ID: @lkf+1mLPcmbM
MicroVAX I

The level of integration across all components to really improve reliability, particularly on the higher end machines, was with the Alpha. The days of a dozen Unibus cards with 100 quad gate and buffer chips each had to end!

by Anonymous
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Post ID: @dcj+1mLPcmbM

MicroVAX I

by Original Deccie
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Post ID: @avl+1mLPcmbM

The shares hit $82 over 23 years ago. They're under $50 today. Welcome to a company seen as having infinite growth transitioned to a company seen as a legacy player.

If they didn't have an IBM style legacy where they could suddenly dump massive licensing fees onto their volume products the stock price would probably be half that which is where they were a decade ago. Customers buy the licenses in the false hope that someday one of the software upgrades might actually fully work. To see what would happen if the software worked look at what happened to DEC's support contracts as they grew from low density ECL VAX minicomputers to single chip processors and the reliability grew dramatically.

by Anonymous
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Post ID: @ikq+1mLPcmbM

5 years ago Cisco had a market capitalisation of $210B, today it is only $200B.
I’m not a maths major, but I’m sure that’s not very good growth.

by Anonymous
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Post ID: @zjf+1mLPcmbM

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