After tech giant Cisco announced plans for its second round of layoffs this year, employees shared their thoughts on the situation. According to multiple sources within the company, affected workers will not learn about the layoff until September 16. This delay in notification has drawn criticism from employees who feel that they are being unfairly targeted.
Background on Cisco’s Layoffs
Earlier this month, Reuters reported that Cisco was planning a second round of layoffs after laying off approximately 4,000 workers earlier in February. The company confirmed last week through an SEC filing that it would cut 7% of its workforce. While employees have now been informed that another round of job cuts is on the horizon, the company has refused to provide affected individuals with notice until September 16.
Employee Reactions
One anonymous Cisco employee, who asked not to be identified due to potential retaliation, stated:
"This has become the most toxic environment I’ve ever worked in. The mood as evidenced by comments on internal platforms is as dark as I’ve ever seen it. I’m only waiting until my next big Restricted Stock Unit vest to leave, and I know others are too,"
Another anonymous employee added:
"Cisco ‘needs to stop layoffs every year and work on innovation and getting more revenue.’"
Internal Climate
The company’s internal climate has reportedly soured significantly, with employees expressing frustration and dissatisfaction. This sentiment was evident in comments shared on internal platforms.
CEO’s Statement
Chuck Robbins, Cisco’s chief executive, addressed the company’s financial challenges during its quarterly earnings call. He stated that while the company delivered a "strong close to fiscal 2024," the net income for the quarter decreased by 45% year-over-year, with revenue down approximately 10% to about $13.6 billion.
Regulatory Scrutiny
In addition to the layoffs, Cisco has faced increasing scrutiny from regulatory authorities. The company’s executive compensation package for 2023, totaling $31.8 million, has been a topic of interest, with details filed with the SEC.
Related Topics
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Contact Information
If you have more questions about the Cisco layoffs, you can contact Lorenzo Franceschi-Bicchierai via email at lorenzo.franceschi-bicchierai@verizon.com. For general inquiries, you can reach him by phone at (415) 286-7309.
Additional Resources
For more information on Cisco’s initiatives and challenges in the enterprise sector, explore related articles and resources available on TechCrunch or other reputable tech news platforms. Stay informed about the latest developments in the tech industry with updates from Security and Enterprise sections.
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