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Cisco to lay off about 14,000 employees

reuters.com

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Re: Cisco to lay off about 14,000 employees

#101

Post by shangaslammi »

drawkbox wrote: post #72

Let's just say the average salary is 70k which is very conservative. That is 14k * 70k annually lost from the local community, a grand total of 980M or let's just say 1 billion annually. Looking for another job when there are massive cuts like this also degrades the salary they accept on their next job because of the competition. I wish companies, if possible, throttled layoffs a bit more instead of large chunks like…

It's kind of strange that massive layoffs like these result in a stock uptick. At least for me it's a sign that the company is probably unhealthy and that its value is going to go down in the future.

Re: Cisco to lay off about 14,000 employees

#102

Post by ndesaulniers »

shangaslammi wrote: post #101
drawkbox wrote: post #72

Let's just say the average salary is 70k which is very conservative. That is 14k * 70k annually lost from the local community, a grand total of 980M or let's just say 1 billion annually. Looking for another job when there are massive cuts like this also degrades the salary they accept on their next job because of the competition. I wish companies, if possible, throttled layoffs a bit more instead of large chunks like…

It's kind of strange that massive layoffs like these result in a stock uptick. At least for me it's a sign that the company is probably unhealthy and that its value is going to go down in the future.

http://www.cringely.com/2015/06/03/autodesks-john-walker-exp...

Re: Cisco to lay off about 14,000 employees

#103

Post by melling »

shangaslammi wrote: post #101
drawkbox wrote: post #72

Let's just say the average salary is 70k which is very conservative. That is 14k * 70k annually lost from the local community, a grand total of 980M or let's just say 1 billion annually. Looking for another job when there are massive cuts like this also degrades the salary they accept on their next job because of the competition. I wish companies, if possible, throttled layoffs a bit more instead of large chunks like…

It's kind of strange that massive layoffs like these result in a stock uptick. At least for me it's a sign that the company is probably unhealthy and that its value is going to go down in the future.

Then short the stock. Long-term put options. What could go wrong?

Re: Cisco to lay off about 14,000 employees

#104

Post by freyr »

tushar-r wrote: post #83
brogrammernot wrote: post #57

Earlier quoted context omitted.

I'm sure they have some good engineers. However, I will say that friends who work there currently and those who have worked there in the past constantly raved about how little they actually have to work and how empty the office is on Fridays among other aspects that give the impression that much isn't expected from their engineers. When you buy practically any competitor and control the margins like Cisco was able to…

> those who have worked there in the past constantly raved about how little they actually have to work and how empty the office is on Fridays among other aspects that give the impression that much isn't expected from their engineers. Cisco is a huge place and this varies by person/team/BU. Fridays a lot of people work from home.

> Fridays a lot of people work from home.

A lot of my coworkers work from home on Fridays too. Which means a three-day weekend / nothing to show for their time on Monday.

Re: Cisco to lay off about 14,000 employees

#105

Post by thrwawy717 »

lazaroclapp wrote: post #89
cm2187 wrote: post #77

Earlier quoted context omitted.

If the local community is the Silicon Valley, it should be able to absorb that pretty quickly. Thought there was a massive skill shortage out there.

Not quite so clear. This is a layoff of 14,000 hardware or low-level networking systems engineers [1], not 14,000 front-end developers, it is not so obvious to me that the current Silicon Valley market is ready to absorb them so easily. Interesting to think those were the kind of jobs, and CISCO the kind of company, that once gave Silicon Valley its name. Makes you wonder how the market for software engineers, even a…

It's not 14,000 engineers who are getting laid off. It is across all functions.

Re: Cisco to lay off about 14,000 employees

#106

Post by abraham_s »

conqrr wrote: post #92
jdale27 wrote: post #79

Earlier quoted context omitted.

If you listen to tech CEOs, there's this huge "shortage of software engineers". There is no shortage of software engineers. What there is, in the eyes of those CEOs, is a shortage of H1-B visas -- i.e., cheap labor from abroad with low mobility. Of course, the alternative is to invest in training citizens and permanent residents, who will then go and get higher-paying jobs elsewhere. So the myth of the software engin…

Low mobility? Immigrants on H1-B can change employers.

They can, but it is significantly complicated and expensive than for a non H1B

Re: Cisco to lay off about 14,000 employees

#110

Post by lordnacho »

chucky_z wrote: post #40

Interesting. I live in the south bay right next to the Cisco campus, and the amount of new employees they are hiring is staggering. I wonder how many of the 14,000 are being rehired as a contractor or something?

Article says they're moving from hardware to software. Perhaps the hires have different skills to the layoffs?
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