Tech Rumor of the Day: Cisco Layoffs
With sales still in steep decline and no sign of recovery on the horizon, Cisco is expected to make a massive staff cut.
Analysts expect Cisco to guide fiscal fourth quarter revenue down 17%-22% year-over-year, as demand continues to deteriorate.
Cisco could also announce a 10% headcount reduction, which could save $900M annually, according to JPMorgan analysts.
Source: Yahoo Finance, TheStreet.com
Update 1 (04-14-2009): Cisco dismisses ‘hefty’ layoffs rumor. According to a Cisco spokesperson: “On our fiscal second quarter 2009 earnings call in February we discussed a limited restructuring where we could in the near term see a total reduction of between 1,500 and 2,000 jobs company wide. This does not represent a broad-scale layoff in our workforce”.
Source: The Register
Update 2 (04-16-2009): According to WARN listing, Cisco Systems cuts 255 jobs in San Jose, California in April 2009
Update 3 (04-30-2009): According to rumors, Cisco “will delay the 10% layoff planned in May. But we will get 1 week shutdown in August”.
~ LayOffBlog.com: Please feel free to add comments and/or send us your updates regarding Cisco layoffs. ~
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About 30 cut at ROS in Austin.
Any news from Boxborough, MA
During the last layoff 3-4 months ago there was a whole group from India which lost jobs while they held on to the US group. So Cisco is doing a good job cutting across all theaters and not just the US. I see some cuts in India this time as well.
Cisco just cut a bunch of technical writers in Boxborough, MA and there are 14 new reqs for technical writers in Bangalore.
hmmm, maybe those tech-writers should relocate to Bangalore.
cisco would hire them in a snap, if you know what am saying.
watch for bad grammar in tech docs. and here is the preview
“boot router then drink tea waiting router come”
is it true? or a rumours? who all are affected only in US or other parts of the worls too
more to come, this was just the tip of the iceberg
10%+ cut coming during Q4 announcement. from reliable solid source, believe me!!
but how come hp, ibm, juniper are not cutting? why is cisco being so mean and cheap?
So you are saying Cisco is going to cut more people in Q4?
we are already in Q4, duh!!
hehe..try your prank in other forums… good try though!
It may be a prank, I don’t know…but he’s referring to Q4 earning announcement, which is indeed coming early August.
In that announcement JC will provide guidelines for Q1FY10 and 1HFY10 in general, which may involve comments on further layoffs…oh sorry I should say *Limited* Restructuring
Well actually IBM has done some serious cutting though…
Won’t dispute the mean and cheap comment though….
Could anyone that got the early retirement package give some detail as
to what it included ?
From what I have heard the 55+ have been offered a package of 1 years salary and benefits. Not sure
Yeah I’ve heard a number of different things, why I was trying
to get some direct feedback from someone on the receiving end
of the early retirement….
Thanks for tossing that out though……
1 year salary and 2 years of medical
Thanks, appreciate it.
any news?
just wait 2 more days son
Any news on how we are doing this quarter?
Any news on when bonus letters will come out? I heard the payout is 9/25. I know it is up to our Managers whether or not we get them. If my memory serves me correctly the letters typically come out 10-14 days prior to the payout………so that should be next week. Any insight?
e-letters were available yesterday.
@Cisco: The bonus letters are already out.
I am happy to have gotten one, but I did think it would be a bit higher. When they mentioned 69% of last years I thought it would be several thousands more. Do you guys know what the factors were when determining the bonus?
I have a feeling it’s 69 percent of the second half payment last
year, not the total.