Layoffs are always tough, but who gets laid off matters. Cisco has taken a "bean counter" approach again and again, cutting based on pay instead of actual value. It's like they don't realize that higher compensation usually reflects greater contribution, so letting those people go has hurt our long-term viability. It’s a dangerous path, as our current situation shows. The leadership’s poor decisions have led to a weaker workforce. I wish I got out when I had the chance because things aren't looking good.
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You miss every trend in technology for 20 years, and the only way to survive is through cost cutting.
The fact that they still generate more revenue that a long list of competitors combined should make a great foundation for a PhD thesis. I know I can't explain it.
@qip+1uswfyBh Happening for last 20 years. But previously it used to happen once a year (August), then twice a year and for the last 2+ years, it's every quarter. Larger layoffs twice a year (August-Sept & Feb) , smaller ones another twice a year and sporadic stealth layoffs all the time.
All the best
Im relatively new here but now wondering how many of these they have had in the past 10 years? I knew about the one in FEB but this sounds like its been going on a long time.
It’s true people should quit on their own instead of just staying and complaining. But it’s not correct to assume that high pay is competence - there are many people who’ve reached that high pay over their tenure and don’t perform at the same level anymore. Or their area of expertise may not be relevant anymore. Sometimes they may have been hired at very high pay and not met the mark. Sometimes, maybe often enough with cisco it’s also politics. But this last number can’t be too high. Complacency is the biggest problem - even at the ELT
The reason that Cisco undertakes regular, indiscriminate culling is that there is no practical business strategy being executed at the top of the company. Chuck's entire goal has been to convince Wall Street that he was turning Cisco into a software company despite Cisco's woeful software development practices. Delivering actual value to customers was never on the list of priorities.
Given that, there's no need to retain talent at Cisco. You don't need technical talent to tell fairy tales to Wall Street. The fact that there was never any real attempt to remedy Cisco's internal software development challenges, licensing nightmare, etc. tells you that there was no will to make the actual changes necessary for the company's future success.
This is why Chuck finally spent $28B on Splunk. He's thrown a Hail Mary in hopes Gary can come in and do the things that he couldn't or wouldn't.
People who criticize Cisco should re-evaluate their intelligence. What Cisco doing is nothing new. Its 'bean counter approach' for layoff is there for at least 10 years. Another post above says "Things haven't been looking good at Cisco since 2008". This 2024. For 16 years, if you have done nothing and staying at Cisco, blame yourself. There were ample opportunities during after and before Pandemic to move to company of your liking. This is irrespective of your age. I know few who took early retirement and found better jobs outside - or at least found other job instead of complaining and doing nothing. Management doing what is right for Cisco shareholders. If you are also shareholder and do and agree, sell
Typo below...meant EBITDA, not EBITA.
To the post below, Private companies aren't necessarily safer or more stable.
In many cases, the PE firms running them have tight EBITA and profitability targets. They will make headcount adjustments frequently to ensure financial targets are met just as public companies will. They always want to be in position to flip the company to the next buyer, and don't want those targets to be deviated from as it affects company valuation at time of sale.
Make sure you read up on the PE ownership and their management of other portfolio companies before you take a position with company controlled by one.
Jobs of the future have always been about long term stability for America. Used to be "plastics", for us it was tech. As always it's a take of two cities, insulation and security for those who know the right people. Hunger games for the middle class.
Tech jobs for these large companies is like being a gig worker at this point. There is such a lack of job security and constant change that you have to save a huge portion or your pay so youre fine between unemployed periods. Signs like this with Cisco LR just ki-l morale and make people jump ship. I will be posting my resume rather than waiting for the next one. Doesnt matter to me the glamor of working for Cisco at all I will be just as happy working for a place nobody has heard of as long as the pay is there and its stable and a solid team. Private companies are better than the traded ones who chop people every time earnings come in bad.
The value at Cisco is your ability to cut costs while convincing employees everything is okay. Things haven't been looking good at Cisco since 2008 when they missed the Cloud, Security, Software... Don't move to Ukraine and complain about the dysfunctional environment
You miss every trend in technology for 20 years, and the only way to survive is through cost cutting.