Why are people panicking? The company is doing well. The stock is at its 52-week high and it'll continue climbing. There's no reason to believe that results will be as disastrous as some are painting them out to be. I think some people just like to wind others up and scare them for no reason.
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the tribalism work culture and "family" connections will be tested on these coming massive layoffs. Toss that diversity, inclusion BS...
The stock will rise and the work will too once more workers are LR’ed.
Cook up the books. Break off a piece. Paint to match. Happens every quarter.
Grow up. Stock price is irrelevant to LRs at Cisco.
Grow up. People here are predicting the Armageddon of layoffs the likes the world has never seen before and something of that scale out of nowhere would not be great for the stock price.
Cisco has had frequent layoffs since 2001. They will have frequent layoffs for as long as they operate a standalone company and if they are ever bought will likely fall under a layoff regimen already in progress at the new company because layoffs serve many purposes:
- Cost reduction during actual bad times
- Ameliorate stockholders when there is just a dip (see any major index for CY22Q4)
- Firing without having to prove cause
- Clean out the brush that is decaying on the forest floor before firing is necessary
- Make room for people with skills that the current staff won't/can't learn cost effectively
- Demonstrate "action" on the part of leadership who lay off good people with the bad because selecting those worth keeping and reallocating them, potentially from good work to bad, is beyond their skills (as much "how" as "why")
This is how corporate earth works now, and the transition started 40 years ago with John Chambers' idol Jack Welch at GE. 40 years more and you'll be paying rental fees to use every part of every object you interact with and your grandchildren will be complaining here about how their smart toilet misread the poppy seed bagel they ate so they lost their health insurance and their job. Like the first layoffs in the 1980s this isn't a prediction - this stuff is already happening in the private sector and will scale up in the name of infinite growth.
@OP
Engineer here, so no idea about the financial mumbojumbo and all. But do have an insight in the dark psyche of humanity to counter that (be it most of that I got at cisco payrol)
Stock grows becomes wanted if net profit of companies rise or there is the hope they rise, get dominance in markets etc (see the unicorn stories from days long ago)
In Cisco case as we plateau on most techs at best, stock rises if we cut our operational costs (in some story, some queen of harts phrases it perfectly "Off with their heads") .
If you still don't get it, check if your login still works in a month or so.
Grow up. Stock price is irrelevant to LRs at Cisco. They fired people last year when the stock price was up as well. Besides, layoffs in particular cause stock to rise as that gives the shareholders confidence that cost cutting and restructuring is happening.