4000 vs 6000 now. Simple strategy - Fire US people, hire cheaper Indian labor - rinse and repeat, and hope to impress wall street ;-)
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These companies receive tax breaks for "job creation". If a company does layoffs, they should be punished. It should be embarrassing that your company constantly does layoffs, this is a sign of poor/failed leadership. Yet whenever it happens, stock prices go up because "maximum profits". Disgusting.
Cutting talent in the name of maximizing profits hurts the company long term, hurts the customer experience, and hurts employee morale. Thousands of American families losing their jobs doesn't help the already struggling economy. When does the money trickle down?
Tech desperately needs unions.
all you people bitchn abt off shoring - i hop your the same people who get on here railing against democrats. the idea that some how Trump wants to save your job is laughable.
Anyone that is surprised that Americans are being replaced by people in India, Mexico, and other places has been living in denial. DEI indoctrination over the past decade has allowed the ELT to move aggressively in this direction by suppression of opposing opinions. Executives that thought this was a bad idea were fired or put out to pasture, and then everyone "got the message". Tragic and evil.
Here is the transcript
https://www.theglobeandmail.com/investing/markets/markets-news/Motley%20Fool/28024519/cisco-systems-csco-q4-2024-earnings-call-transcript/
Yeah, Jim, I'll start. I think the -- again, think of that as the reduction that we're doing as much more of a reallocation versus a headcount savings. In some cases, the efficiencies that we're going to get will be from by moving into lower-cost locations. So, it's not as easy to do the math to say like, hey, if you were, you know, 90,000 heads before and 7%, I expect you to be at, you know, whatever the math works out to.
Some of that is not going to be just a, you know, 1-for-1 headcount change. It's going to be saving as they come by putting more work into lower-cost locations. So, I don't think the math is going to help you as you try to build out your model.
This is quite confusing. Note to myself: never dial-in an earnings call.
“Re-alignment with jobs at another location” - Scott told this loud and clear.
Is there a transcript?
When your are lying, and asked the same question 4 times, you start to forget what your first story was.
But all these management clowns need min 55% margin ! Zero accountability, handing over loyal customers to competition. Sh.t Show Continues .............
Cisco IT in the US will be gone
These companies are ki-ling their own country by offshoring American jobs. It’s become a trend in this country - pay for cheap labor while you destroy your own country. And the politicians are in their back pocket.
“Re-alignment with jobs at another location” - Scott told this loud and clear.
So no possibility of re-training and internal moves. Must do LR with little to no possibility of finding another Cisco job for those LRd. Saving money NOT for cost cutting BUT to refocus and re-align on fast changing emerging technologies.
Anyone buy this? BULL*SHIIIT !!!!
I won’t train ANYONE from India.
Re-alignment means there are open roles employees can pivot to. That’s not the case guys! Requistion volumes in AMERICA have been low for over a year.
Layoff full-time employees with benefits, replace with contractors that can't afford to ever retire. Seems like the strategy.
C’mon, this is so lame they didn’t even try to solve the problems. Once someone threw this idea on the table, they were done, and then decided they needed a trip to Paris as reward for all the hard work! I’ll bet they are very proud of themselves too! They tried nothing and are fresh out of ideas!
Business as usual said Scott. Nothing to see here.