The idea is to let go of older and more expensive employees - who tend to live in the suburbs - and then hire younger people who will be paid less and who like to live in the big centers and afford them by sharing their houses/apartments with others.
I have heard also that the EVP's have been talking about needing "new blood" and hiring people from outside. That has always been Cisco's R&D strategy and it's now their talent strategy as well.
This post by @WuxKiUA-1ivd was originally a reply to another thread, but I felt it was a truthful post, worthy of its own thread