Chuck has poker tells. I was only there one year since he took charge, but you can tell when he's lying. He absolutely floated the 20% rumor or had his underlings work with their underlings work with their underlings to ultimately force a poor early in career stooge in HR or marketing to do it so they could fire/discredit them if the truth came out. Even if they didn't, the fact that they let that rumor get out or didn't immediately deny it shows they were doing A/B testing to see how the "messaging" affected the stock price. Truth is-it's probably going to be more than 20%-in waves-they're trying to be "strategic."
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floating the inflated LR # was a good stock jump ploy.
This was a strategy designed by Chuck's PR team (a bunch of amateurs) to confuse and mislead the market. Cisco decided a long ago not to have PR professionals on board (they are too expensive); better to have amateurs. And this happens when you run a company by amateurs. Cisco brand is destroyed. Brexit is the only responsable...
Cisco dismisses layoff buzz as rumour
Cisco denied rumors of them laying off about 14,000 employees. http://tech.economictimes.indiatimes.com/news/corporate/cisco-dismisses-layoff-buzz-as-rumour/53742064
The fact is that the 20% rumor started here - It's only because of lousy journalism by CRN (Mark Haranas - @mharanas1987 ) that this number got published and picked up by many news outfits...
There is nothing more to that story... Oh, yeah, and Trip Chowdhry of Global Equities Research has been harping on extra massive cuts since January, I believe he was in a 10K range (I may be wrong) - he did call Intel and VMWare cuts fairly accurate, so it's 2/3, good on Intel/VMW and off on us