👆 https://www.reuters.com/business/cisco-cut-thousands-jobs-it-seeks-focus-high-growth-areas-sources-2024-02-09/ 480 #severance #layoff
Cisco has a layoff every year, standard for them.
10k every year?
10k
More homes coming to sale? Unemployment rate going up?
Cisco old engineers fool have already paid full their houses. The young engineers can’t make enough from Shitco to afford a dog house
Manager and above are not impacted.
Of course not. Someone needs to steal the 💰.
When Panic at the Cisco wasn’t just a wifi name 😭
Cisco is a zombie company like HP and IBM. Its had a glorious run during the dot com boom when network infra was the shiny thing. Unfortunately it hasn’t been able to pivot to the next cash cow (ie Microsoft). Data centers developing in house infra does not help. For these companies “growth” is engineered through cost reductions instead of top line. It’s all about headcount reduction, cheaper geos, and selling off orgs at this point.
I believe if you look at the list of acquired companies by Cisco in the past 5-6 years, they've been buying mostly cloud and cybersecurity industries, which is a SaaS running on top of the Cisco system platform as the moat glue "vertical integration" end-to-end stack. I believe 🍎 is doing a similar approach.
i said this 2 weeks ago that cisco was gonna have a layoff. a lot of you didn't believe in me. now it is happening. https://www.teamblind.com/post/Cisco-Layoff-2024-Ec64cjpB who's gonna carry the boats?
Do you know which BEs and functions are going to take a hit? Will G&A functions like finance, sales, etc be part of it?
Majority layoff targeting sales not finance. Cut across all business units.
Apocalypse Now End of Days Game Over 🍄☁️
Tech is laying off everywhere
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Cisco always does this