I've mentioned this info in other posts, but I'll consolidate it here. 3 months ago there was a requirement from the executives to cut operating expenses by 10%. This is referred to as "Run The Business" costs... as compared to "Grow The Business" costs. What this means is if what you do only "Runs The Business"... like IT, Support of external clients, etc. then some people on your team might be in trouble. If what you do "Grows The Business".. like emerging technology, anything with ACI, Certain BUs working on Nexus 9000, then your group is safer. After these meetings they lowered the 10% down to 9%. Our boss told us that the vast majority of Contractors would be let go. She also told us that she would have to let 30% of the blue badges go next week... but she could not give out the names. I have no information regarding severance packages. Good luck everyone.
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I'm the original poster of this... again.. if you work for a group that "runs the business" your group will be impacted. If you're in a group that "grows the business" your group will not be impacted. The 9% cut affects "operating expenses".
Great time to say goodbye to the deadwood. It's not personal it's business.
Depends on the group. Some are 30. Some are 5. Some hire. I think it will mostly be a repeat of last year. They'll say it headcount will be neutral, like last year. But with acquisitions, some room must be made.
Many contractors are staying. Only certain groups are seeing large drops in contractors.
Sr execs reporting to remove overlapping management positions.
I dont think there is a layoff coming, all the managers I know are hiring. Why would they be adding staff if layoffs are looking?
If you are scheduled to attend GSX and you are getting LR, you will be notified Aug17. Otherwise, Aug18. That is what I was told.
Word from a reliable source is Aug 18th, possibly spilling over to the 19th.
All contractors and 30% of your team....seems like more than 10%.
Heard the same. Any word on when the hammer drops?.....CISCO: such a family friendly corporation. There goes college next year honey!