After tech large Cisco introduced plans for its second spherical of layoffs this yr, workers 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 employees in February. Cisco confirmed final week in a SEC submitting that it’s reducing 7% of its workforce.
Whereas workers have now been knowledgeable that there will probably be a brand new spherical of job cuts, the corporate has refused to inform affected employees till September 16, in response to a number of Cisco workers.
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“This has turn out to be essentially the most poisonous atmosphere 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, informed 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, California-based firm introduced its second spherical of layoffs because it reported decrease than anticipated earnings throughout the yr, its internet earnings throughout 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.