Thread regarding Cisco Systems Inc. layoffs

Footnote to earnings, another 1/4 of cuts

As Cisco put it in the footnote,

In August 2016, we began taking action under a restructuring plan in order to reinvest in our key priority areas with estimated pretax charges of approximately $850 million. In the first quarter of fiscal 2018, we extended the restructuring plan to include an additional $150 million of estimated additional pretax charges. We have recognized pretax charges of $908 million to our GAAP financial results in relation to this restructuring plan since its inception. We expect to recognize the remaining charges under this plan primarily in the second quarter of fiscal 2018.

I asked Kramer if this meant additional headcount reductions. She said, "It’s all part of the same program we started a year ago; we are extending it out another quarter. It's an extension in terms of, as we finalize the details of the overall program."

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Post ID: @OP+QizBmZe

8 replies (most recent on top)

"Their is still an overpopulation of deer in the overall population. Our hunting season timeframe is all part of the same deer population control program we started a year ago; we are extending open hunting season permits out another quarter."

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Post ID: @1zmi+QizBmZe

Get used to he new normal. Announcing layoffs was so 2000s. Expect to be cut at moments notice. Did you hear Boston Dynamics invented a robot which can code and learn from its mistakes? Cisco Engineering BUs are on a short leash.

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Post ID: @fzo+QizBmZe

I don’t believe her. Hey stock is up, so all ok. Until I get laid off.

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Post ID: @tpt+QizBmZe

Cisco punters.

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Post ID: @qvl+QizBmZe

Kramer also said "This is a kind of portfolio management” for Cisco, in terms of its talent, she said." in her interview about the "program" in Barron's. So, now we finally know what the People Deal program is all about!

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Post ID: @qaq+QizBmZe

Just enjoy your damn stock increase ya lousy stockholders....!

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Post ID: @iot+QizBmZe

Go Cisco!!!!

IP + ATM yo

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Post ID: @owq+QizBmZe

We love Kramer. It is a real business leader.

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Post ID: @izq+QizBmZe

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