Cisco Reportedly Lays Off over 4k
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Cisco Reportedly Lays Off over 4k
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Re: Cisco Reportedly Lays Off over 4k
#2Re: Cisco Reportedly Lays Off over 4k
#3The only shocking things about this layoff at Cisco, which happen about once a year, is that it didn't happen during their normal time in the summer and that the numbers are so modest.
Re: Cisco Reportedly Lays Off over 4k
#4Phraseology:
Roku: “Current economic conditions”
Cisco: "rebalance across the board"
Amazon: "unusual and uncertain macroeconomic environment”
Disney: “a targeted hiring freeze”
Meta: “macroeconomic downturn”
Salesforce: "performance issues”
Stripe: “stubborn inflation, energy shocks, higher interest rates, reduced investment budgets and sparser startup funding,”
Opendoor: "the most challenging real estate market in 40 years”
Re: Cisco Reportedly Lays Off over 4k
#5It's hard to understand if this is actually related to layoffs based on larger market forces, or just a once a year house cleaning.
I've worked at places that laid people off once a year. It's a common way to give managers a way to get rid of under performing employees without the hassle of going through a PIP. The manager gets rid of a bad fit, the employee gets some severance, so both sides get something.
But since this is happening at the same time as other companies doing layoffs it can seem like it's all occuring for the same reasons.
Re: Cisco Reportedly Lays Off over 4k
#6It's hard to understand if this is actually related to layoffs based on larger market forces, or just a once a year house cleaning. I've worked at places that laid people off once a year. It's a common way to give managers a way to get rid of under performing employees without the hassle of going through a PIP. The manager gets rid of a bad fit, the employee gets some severance, so both sides get something. But since…
I mean it doesn't matter in the sense if those laid off can't find a job easily. The numbers are starting to build up.
Re: Cisco Reportedly Lays Off over 4k
#7It's hard to understand if this is actually related to layoffs based on larger market forces, or just a once a year house cleaning. I've worked at places that laid people off once a year. It's a common way to give managers a way to get rid of under performing employees without the hassle of going through a PIP. The manager gets rid of a bad fit, the employee gets some severance, so both sides get something. But since…
I feel it's more market psychology in many cases - having to demonstrate to the analysts that you're being fiscally prudent (hence the commonly resultant stock price increase) rather than any particular internal need. It's a shame that perfectly decent people are being let go so that some Wall Street Chad can make a check mark.
Re: Cisco Reportedly Lays Off over 4k
#8It's hard to understand if this is actually related to layoffs based on larger market forces, or just a once a year house cleaning. I've worked at places that laid people off once a year. It's a common way to give managers a way to get rid of under performing employees without the hassle of going through a PIP. The manager gets rid of a bad fit, the employee gets some severance, so both sides get something. But since…
I mean it doesn't matter in the sense if those laid off can't find a job easily. The numbers are starting to build up.
You are correct that if you are unemployed and looking for a job it doesn't matter. All you see is increasing competition in the job seeker market and that sucks.
But it does matter for people who are employed and looking for jobs. If you are unhappy and/or underpaid at your current job, layoffs all caused by larger market forces might be interpreted as a hint that you should think about staying at a "safe" job unless you really hate it. However, if some significant portion of the the layoffs is due to recent over-hiring and that has now swung the other way into layoffs, changing jobs might be less risky.
Re: Cisco Reportedly Lays Off over 4k
#9Phraseology: Roku: “Current economic conditions” Cisco: "rebalance across the board" Amazon: "unusual and uncertain macroeconomic environment” Disney: “a targeted hiring freeze” Meta: “macroeconomic downturn” Salesforce: "performance issues” Stripe: “stubborn inflation, energy shocks, higher interest rates, reduced investment budgets and sparser startup funding,” Opendoor: "the most challenging real estate market in…
>Opendoor: "the most challenging real estate market in 40 years”
Didn't the subprime mortgage crisis happen in 2007? The current situation is worse than that???
Re: Cisco Reportedly Lays Off over 4k
#10A pundit pointed out that in several cases, the tech firms laying off have returned to their employee size of 1 year ago and that there are still many jobs available in the industry. Have you seen articles on how long people are taking to find their next job and if they are better off?