After tech large Cisco introduced plans for its second spherical of layoffs this yr, staff inform TechCrunch that they won’t know if they’re affected for near a month.
Earlier this month, Reuters reported that Cisco was planning a second spherical of layoffs this yr, after letting go of round 4,000 staff in February. Cisco confirmed final week in a SEC submitting that it’s chopping 7% of its workforce.
Whereas staff have now been knowledgeable that there can be a brand new spherical of job cuts, the corporate has refused to inform affected staff till September 16, in keeping with a number of Cisco staff.
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“This has turn into probably the most poisonous setting I’ve ever labored in, and the temper as evidenced by feedback on inside platforms is as darkish as I’ve ever seen it. I’m solely ready till my subsequent massive [Restricted Stock Unit] vest to depart, and I do know others are too,” a Cisco worker, who requested to stay nameless to keep away from retaliation, advised TechCrunch. “Two layoffs of this magnitude in the identical calendar yr is past the pale.”
One other worker, who additionally requested to stay nameless, mentioned Cisco “must cease layoffs yearly and work on innovation and getting extra income.”
Cisco didn’t reply to a request for remark.
The San Jose, Calif.-based firm introduced its second spherical of layoffs because it reported decrease than anticipated earnings in the course of the yr, its internet earnings in the course of the quarter down by 45% on the yr prior. Income was down about 10% to about $13.6 billion throughout its fourth-quarter.
Chuck Robbins, the corporate’s chief government, mentioned Cisco delivered a “sturdy near fiscal 2024.” Robbins made $31.8 million in whole government compensation throughout 2023, the corporate’s filings present.
