Cisco workforce reductions

protocolture

> Today we announced our Q3 FY26 earnings with record revenue of $15.8 billion, up 12 percent year over year, and double-digit top and bottom-line growth. The ELT and I could not be prouder of the growth you have all delivered for Cisco. Interesting decision considering they aren't at any sort of risk.

0xbadcafebee

The casualness of mentioning record revenues in the same PR statement as laying off 4,000 people is fucked up on a new level. It used to be you were supposed to at least pretend you were forced into a layoff. But now it's like "Hey guys! It's time for our regularly scheduled layoff to juice profits! I got an extra $5M bonus for this!"

bitmasher9

“We are running out of good ideas to execute on, so we are reducing our workforce to a quantity we can utilize.”

charlie0

Revenue, not profit. A lot of that is likely inflation. I suspect we'll see this pattern repeat quite a bit with the oncoming oil shock

0x0000000

This kind of behavior is never tolerated in the market. Your revenue is flat; they lay you off. Right away. No trial, no nothing. Your revenue is down, right to layoffs, right away. Revenue grows but less than guidance? Layoffs. Record revenue exceeding guidance? Believe it or not, layoffs.

holysoles

Almost bought cisco shares today, glad I didn't. A workplace that values job security is such a motivating factor for employees that I don't think is recognized enough. At a company that conducts layoffs, it feels like you're just waiting for the next one.

ciscociscocisco

> We have important, impactful, and consequential work ahead writing so bad claude could do better

totetsu

>To those leaving Cisco, thank you for your contribution, your dedication, and the mark you have made on this company. We are deeply grateful and are committed to handling this transition with the care, clarity, and respect that defines our culture. Who the hell needs gratitude if you can't earn an income.. seeing all of these layoffs I cant help but think something along the lines of .. Those of use who greatest asset is our labor need to recognize the great risk it is at of going to 0 value in the near future, and renegotiate everything to get as much value out of that asset before it does. Like enough to retire on. And as with established theories of intelectual property rights protect creators moral rights to the profits of their work, there needs to be mandated moral rights that stop peoples labor being used as training data for AI without the consent, and without a path or compensation for the loss of income that will cause them.. Otherwise this is just one big transfer of power from most people, to people with capital, who can then wield that power in more capricious and selfish ways.

sciencesama

how big is the WFR ?

33MHz-i486

its sickening that these companies making 10s of Billions in profit annually at 60% gross margins are going to throw their employees that got them there under the bus. layoffs are for at risk companies undergoing restructuring not semi-annual financial engineering of your earnings release I’m not a big collective action proponent historically but in the face of this bs, it might be time.

ralph84

> We will provide support in finding new opportunities, whether internal or external, through Cisco’s placement services – a program that has seen 75 percent of participants discover their next role. 25% unemployment doesn't seem like something to brag about.

alasano

Coinbase, CloudFlare, Cisco. Another round of layoffs at CrowdStrike would fit the pattern nicely.

markus_zhang

OK looks like the horn has been blown. Now they are all doing layoffs. Wall Street waving its visible hand again?

dalmo3

> reduction of our overall workforce in Q4 by fewer than 4,000 jobs Interesting use of fewer .

jjtheblunt

"Executive Leadership Team" is such an interesting phrase. Never in several years inside Apple spanning Steve Jobs and Tim Cook heard any such condescending nonsense. I believe it's because they truly didn't think that way.

absolutewinner

The other thing is that the laid off employees will lose all their unvested RSUs. These shares were granted as compensation for past performance but they can now be conveniently clawed back by the company just because they decide to lay you off. Stock can be a large part of someone's compensation in a tech company. Companies shouldn't be allowed to benefit this way if they decide to lay off employees.

HDBaseT

"I could not be prouder of the growth you delivered" Note the "you delivered"... --- A few lines later "With this, we are making changes today that will result in the reduction of our overall workforce in Q4 by fewer than 4,000 jobs" Rough, bit on the nose no?

banach

This is why corporations need to be owned and operated by the employees.

declan_roberts

This type of thing should come along with a reduction of allowed H-1bs.

semiquaver

OMG, press the “read aloud” button. Brings me right back to to computer class in 1995!