https://www.cnbc.com/2024/02/09/cisco-to-cut-thousands-of-jobs-as-it-seeks-to-focus-on-high-growth-areas-reuters.html #layoff
This is all about corporate debt that has to be refinanced at higher rates, coupled with reduced consumer spending. Apple has over 111B in debt and only 60B cash on hand Personnel are the largest line item, and easiest way to make a difference in the budget. We’re going to see lots more layoffs this year.
I’m sorry you’re unable to extrapolate. There are many other factors at play, most of them are quite negative. Debt is a huge line item that must be accounted for in the year that refinancing is expected (according to sound accounting practices) which for most companies is this year.
Cisco cuts jobs at least once a year and has for as long as I can remember. Nothing new here.
Now it’s 3-4 per year, and “thousands” in one layoff (rumor is anything from 4k-10k) is new for Cisco.
Now it's atleast twice a year
Cisco should have cut half of the management who screwed up the company. chuck robber should step down, so are his pets
Since Cisco acquired Splunk, it should cut AppDienamic seriously to trim down the overhead and the incompetent product
They're not the same thing, that's like cutting WebEx because they bought Meraki. They're two completely different products. They are adjacent but separate.
I think collab/webex is going to be hit but who knows….
What would be the severance?
They offer pretty generous packages. Not sure what this one will be.
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i wonder when will these layoffs stop