https://www.reuters.com/business/cisco-cut-thousands-jobs-it-seeks-focus-high-growth-areas-sources-2024-02-09/
24 replies (most recent on top)
about time. a lot of dead wood around here
It's not the deadwood checking in all those bugs that eat most of the development budget. There is such a thing as negative contribution and Cisco has a lot of it.
"Does this mean Ann-Margaret's not coming?"
Joker... I want you to get straight up to San Jose. Captain Robbins will need all his people.
Take Routerman with you.
Most Ricky-Tik! Now Move out!!!!! :D
Some TAC engineers in RTP are impacted... Your mgr should have scheduled a "team meeting" on the 14th to discuss more... Good luck everyone
Does this mean Ann-Margaret's not coming?
Does this cancel the forced summer PTO in July?
Anyone talking about options is clearly NOT a Cisco employee. We moved to RSUs many years ago.
what you identify as dead wood may not be what your manager and skips identify as dead wood. even if your manager loves you, they might not even be involved in creating the final list.
“about time. a lot of dead wood around here”
Will be epic if you’re some of the dead wood that is axed.
Manager here.. don't worry about the off-the-cuff/surprise 1:1. We have a deadline of 2/16 to hand in talent assessment and development discussions in workday.
On another note, if your manager didn't communicate this to you beforehand, shame on them for not preparing you.
about time. a lot of dead wood around here
How many or what % expected to be axed ? Any idea?
I actually wouldn't mind being on the list this time around. The wheels seem to be flying off at this point, and soon into the ditch.
Why would Cisco executives leak this information early? What is the benefit to doing so before the actual announcement? Thoughts?
Yep, makes sense why I just got a 1-1 invite from my manager. I was prepared anyway
People worried about prescheduled 1:1 with managers: don’t worry too much! First see if your managers themselves are safe or not. Hakuna Matata. All the best.
Totally blindsided. Wow.
Manager scheduled 1 on 1 as q1 retro next Monday.
Laying off?
Manager scheduled FY 2024 Q1 review meeting on coming Monday. On the agenda he also wrote will discuss goals for next quarters. Does it mean I am getting laid off? Or safe? Thanks 😭😢
And THIS is why they were making people take PTO.
@gqp+1qZX5dvX Unless they offer advanced vesting in the severance, then any unvested RSUs are gone. They technically never were yours until they did vest anyway.
i dont follow how cost cutting is connected to stock options. Does that mean that your vested/non-vest options are gone if you get LR'ed?
@xaa+1qZX5dvX That $600 million number was from the Nov 2022 layoff. We have so many that it’s hard to keep track.
It is all about cutting costs and avoiding paying out stock options. LRs are part of the Cisco culture and it is proof we don't care about people! But unfortunately, treating people this way is legal as Cisco has found all the loop holes.
600m in severances and other charges. sheesh