As online social media forums become venting grounds for laid-off employees and draw wide attention, startups face reputation risk that can cause serious damage to future hiring plans.Cisco Systems has termed as rumor and refrained from commenting on a report that said that American technology giant was laying off about 14,000 employees.
In a statement, the company which is reporting its quarter results on Thursday said, "We are in our quiet period and Cisco does not comment on rumour or speculation." Citing sources close to the company, technology news site CRN had reported that Cisco is asking nearly 20 per cent of its global workforce to go.
The cuts are expected within the next few weeks, the report said, as the company transitions from its hardware roots into a software-centric organization.
In India Cisco has seen a handful of its senior leader calls it quits in the last few months. While its managing director of sales for India and SAARC region, Purushottam Kaushik left the networking major after a stint of seven years, Joydeep Bose the managing director, Asia Pacific and Japan, at Cisco is leaving the company for a new role as a venture capital manager.
Cisco's director - systems engineering for Service Provider, India and SAARC, Lalit S Chowdhary also quit the company after a stint of five years, along with Jaswant Boyat, who was Technical Director heading Systems Engineering for Service Provider, India & SAARC. Boyat is joining Huawei Technologies as Director — IP Network Solution Sales.
However, the company has dismissed the top level resignations as routine attrition. It claims that the India business has seen eight straight quarters of growth with the last three quarters growing at a rate of 40% (Q1FY16) , 23% (Q2FY16) and 18% in Q3 2016, respectively. A spokesperson said that Cisco is seeing significant traction for its solutions in the enterprise space - especially UCS (servers), networking and collaboration and security solutions.
According to a Reuters report, two other big software companies, Microsoft Corp and HP Inc, have also announced job cuts this year. Microsoft said in July that it would lay off about 2,850 jobs over the next 12 months, taking its total planned job cuts to up to 4,700, or about 4 per cent of its workforce. HP Inc said in February it would cut about 3,000 jobs by the end of fiscal 2016.
Cisco currently has more than 70,000 employees as of April 30.
Source:
http://tech.economictimes.indiatimes.com/news/corporate/cisco-dismisses-layoff-buzz-as-rumour/53742064