During an Ask Me Anything (AMA) today, the Q&A had the following:
Q: There was a restructuring last month, and the explanation was - "These recent notifications are part of the rebalancing effort we began in November 2022, which included a limited restructuring impacting our real estate portfolio and approximately 5% of our workforce,”. Is this rebalancing effort complete, or is more to come?
A: The recent rebalancing activity was the last wave of the announced FY23 restructuring activities. While there are no other planned rebalancing activities in the short-term, SBG will continuously look at opportunities to align our portfolio to our customers and to the market.
I can't wait to see how this person has to backpedal when Cisco has the next round of LR's and SBG is impacted in Q1 or Q2.
Q: There was recently an LR. These sort of actions are demotivating. I know job security doesn't exist, but I expect a little better from Cisco. Is senior leadership attempting to address this?
A: We always strive to be as transparent as possible with all Cisco employees while balancing the sensitivity of these difficult decisions as well as legal restrictions we face in some countries. We will continue to work on our messaging and look for opportunities to improve how we support our employees.
This is a lame answer. By not sharing the details of the packages like they used to, they are not being transparent. How is sharing how Cisco is taking care of the impacted employees by giving them a "generous" severance package being insensitive? Why do legal restrictions in some countries impact what you say in my country? Simply say that "we are taking the following actions in the US & Canada and those in other countries will be notified in accordance with their country laws." And then share those announcements when those country laws permit.
Q: It is confusing to have been told that certain products are a strong part of our security direction, our sales exceed goal, and many of our folks helped with the XDR launch - but we still lost people in the LR. Can someone explain this?
A: To transform fast, we are continuously evaluating our growth opportunities and prioritizing accordingly. This requires suite level and SBG level decisions, that enable the rebalancing of investments across our portfolio to align to our strategic and workforce plans. While restructuring is our last resort, and only happens in areas where we’ve leveraged all available workforce planning options, it is sometimes a lever we need to pull. If you have specific concerns, please direct those to your senior leadership chain.
Wait a minute! I thought this was an "Ask Me Anything" with our senior leadership chain. It sure read to me like a very specific concern. Our sales exceeded goals and we let people go. Why did that happen? Again, ducking the question is not transparent.