Hearing of lots of LR activity still going on around the world and some fresh reports of Q2 LR's but can anybody confirm if all these still fall into the initial 5500 originally announced or have we surpassed that now and through some PR and numbering trickery Cisco have managed to conceal an extension of the original number?
Curious to know of any site/team that had Q1 layoffs, thought they were home free, only for the wolves co circle back and cut again in Q2.
With hundreds of layoffs in Jerusalem and Illinois in the last few days, and probably more in other parts if the world, it's safe to say the storm has not passed yet. Europe will be tapped again in January. There is always more restructuring around the corner so the monkey is never off your back.
Somehow it feels like 5500 is a dot in the rear view mirror now. Maybe the originally touted 14k was not so ridiculous afterall? Somehow I think 14k is too big and 5.5k is too small. The truth might be somewhere in between.
The 14/15K workforce reduction was the original plan that got leaked and the CEO had to intervene and do damage control but its quite evident that the cuts and continual cuts reflect Cisco's position to reduce cost structures to make their bottom line look good ....... The story line around moving assets to the growing part of the business is BS as I personally witnessed Cisco take the hacksaw out and eliminated hundreds of positions in areas where the company was actually growing. The sad thing that confirms this observation was talking to those who survived and take on additional responsibilities without a merit increase and trying to hire additional folks from India willing to work for less money bringing little experience ..... A recipe that tells me and the market Cisco's best days are behind them !!!
Agreed. They will never draw any attention to that. Why would they. LR's will continue in smallish numbers that do no legally require WARN notification. It's been going on for several years, even last year but it wasn't made as publicly visible.
My team lost 1 in the first round and 3 in this round. We went from 10 to 6 employees on the team. And several FTEs around me are being released as well.
I'm sure we passed the 5500 marker a long distance back. Can't wait for Q1 earnings call now on Nov 16 to hear them try to cover up that they booted many more than they said they would.
I have heard that the final figure will be 7700.
I know few who were let go in August and found internal roles in teams that got cut this week. They were not let go when all others in their teams were cut. Does this mean they are already accounted for under 5500 ?
The layoffs are part on the 14k number. My view is that they will continue trough out the year.
It is unclear. But come on... What kind of f....led up management phases a layoff 2 months apart? These CVG people never saw it coming since they were just hit. This round 2 was big and was u.g.l.y. The survivors see this sh-- and know NOBODY is safe. What a mess.
The double layoff to the same groups makes me think it is above the 5k. But. Who knows? They are so messed up anything could happen.
Directors are lining up for their severances. 14k sounds too high, Wall Street would decimate the stock. 5k sounds too low for the yearly culling.
Not sure directors would appreciate that too much if they had to cut again, particularly if they had just handed out promotions and payrises to those left after Q1 cuts? Surely having to double back after that would erode the little bit of goodwill that payrises might have bought them and bring back into focus the fact that you are just a number on a spreadsheet to Cisco. The Cisco Family that JC went on about is well and truly estranged. It's dog eat dog now and that is such a pity.
A worker from a team I used to be a part of said their team got hit twice; two in Aug & two in Nov.
Their management is strongly pushing that this was part of the original 5500.
Personally, I question why the need to let's some go the day after the FY earnings call & some 90 days later if both groups are redundant. Something fishy is going on & it stinks.
Lots of layoffs this week in SanJose and RTP, the layoffs in August weren't the end, but Chuck is slowly reducing workforce one department at a time. I don't know any engineers that aren't looking around.
In what countries or states is WARN a legal requirement? I only know of California. Surely it wouldn't be possible to get to 14k without invoking more WARN notices.
i am pretty sure and many others agree that the 14k number which was leaked is what is really happening.
so the answer to your question is no and yes. not in the 5500 but in the 14k they orginally planned.