After tech giant Cisco announced plans for its second round of job cuts this year, employees told TechCrunch they won't know if they'll be affected for nearly a month.
Reuters reported earlier this month that Cisco was planning its second round of job cuts this year after laying off about 4,000 employees in February. Cisco acknowledged in an SEC filing last week that it was cutting 7% of its workforce.
According to multiple Cisco employees, employees have already been notified that the new job cuts are coming, but the company is refusing to notify affected employees until September 16th.
Have more details about the Cisco layoffs? You can securely contact Lorenzo Franceschi-Bicchierai from a non-work device on Signal (+1 917 257 1382), Telegram, Keybase @lorenzofb, or email. You can also contact TechCrunch via SecureDrop.
“This has become the most toxic environment I have ever worked in and as you can see from the comments on our internal platform, the atmosphere is the darkest I have ever seen. I am just waiting for the next big job to come along. [Restricted Stock Unit] “I'm planning on quitting, and I know others are, too,” a Cisco employee who asked not to be named to avoid retaliation told TechCrunch. “It's insane that we have two layoffs of this magnitude in the same calendar year.”
Another employee, who asked not to be named, said Cisco “needs to stop cutting jobs every year and focus on innovation and revenue growth.”
Cisco did not respond to a request for comment.
The San Jose, California-based company announced a second round of job cuts after reporting full-year profits that fell short of expectations and quarterly net income that fell 45% from a year ago. Fourth-quarter revenue fell about 10% to about $13.6 billion.
CEO Chuck Robbins said Cisco was positioned to “close out fiscal 2024 strong.” Robbins received $31.8 million in total executive compensation in 2023, according to company filings.