Been with Cisco 10 Years, Talked with my Sr. Dir last week. Overall guidance was 8-16% Opex Reduction across the company with a few select teams that will not be touched so some will be closer to 20%+.
I believe a 10% cut across the company is highly realistic so in the 7500 person range.
Last I heard is Americas notifications will happen either on August 9/10 or the morning of the announcement so Aug 17th.
Being told 8% to 10% OPEX cuts... Lucky groups can cut expenses without cutting heads... We are only required to report to the street if we are impacting 10 percent or more of blue badges... Being told they will focus on red badges first and then try to salvage blue badges... Based on that I don't think they will wait until the 17th for layoffs
To the arrogant clown who posted under the pseudonym 'serious' who spouted off about services groups doing nothing and therefore Cisco should more wisely spend their money hiring more development people, we do do something very important: i.e. supporting the sh-- pushed out the door by the development organization and trying to keep the customers from throwing out Cisco equipment. Services don't make additional work for development organizations, the development organizations do it themselves through sh--ty quality and half-baked features.
Remember in those "groups" there are working class people with families trying to do a good job that have absolutely nothing to do with the immoral decisions of the so called "upper management" above us all. They are also victims. You should watch your words . ASSUMING YOU HAVE ANY MORALS.
There are groups that DONOT add any value; the entire group. Let them go. Cisco should add to its engineering development/test teams and cut the overhead teams like services:quality that just make charts/powerpoints and make uncessary work for engineering teams. Cisco! wake up
Cisco has become a sad story! Leave on your own term,is the message.
why should an LR be a driving force in determining your career ? Find your calling and make your future. Why live in fear, life happens. Get up , dust yourself and move on. The world is your oyster.
If the notifications have already begun, any info on the package?
End of year is NOT July 25 this year. It is July 30. Target is 10% though some groups will not be affected due to already undersized from people leaving. That means more work without a raise for the remaining worker bees. The lists have already been made weeks ago and people have already started to be let go this week.
I can't believe any Cisco employee that's been there more than 18 months doesn't have an "exit plan." Seriously, you work at Cisco to get a big name under your belt, put up with a toxic environment for a few years and then go on to do other (better) things.
The most important thing you learn working at Cisco is how to work the system, so spend 6 months or a year trying to find your next job and a few months trying to make sure you get the redundancy payout when it hits your country every year.
I think cisco wants to prop up the stock to $35... so its better to announce during earning call. wall street loves blood...
Seems like waiting until August 17th is unnecessary. End of the year was July 25th.
Should make the cut now and then announce how great a year it was.
As a mechanism to cut deadwood, it would make sense. Unfortunately, they always do these blanket, across the org quotas so we lose critical, valuable team members. After several years, there simply isn't anyone left in many groups who doesn't add value. And it's such a hit to morale to see our leader talk about what a great year/earnings and then turn around and cut people. Certainly doesn't make me feel warm and fuzzy about Cisco.
This is unfortunately nothing new and would not surprise me at all. Happened so often over the past years and still does not come to an end - wonder if it will end at all before it is too late. If it is not already too late.
yes notifications to people are August 18. no one knows the exact number but i guess it will be announced in the August 17 conf call (word is some teams will get obliterated, but all teams have a quota). Add 5% to that as usual (bottom 10% performers). as usual, experienced (older) contributors will be decimated. it's morally bankrupt, but entirely legal.
I heard they were waiting until after earnings, so they would be axing on the 17th or 18th so that affected employees don't go to Vegas for the sales meeting. Having seen this movie a few times, I believe this to be true.
It's so political, it's so siloed, waste of productivity is rampant, innovation is not cherished or rewarded - what can you expect - there is only one path ahead and it's going down
Top leader? Dude...
I am hearing 20% cut across cisco. Heard some projects in cloud bucket will be scrapped. I worked on 3 projects in last several years. All of them got scrapped. Cisco invest to develop products in house and then acquire company and scrap in house projects. What is happening with cisco?
Probably top leader does not have any idea what they want to do?