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Cisco Announces Layoffs And Restructuring

Cisco will be laying off 2,000 employees. The company also announced better than expected financial results. Employees will be getting news about the layoffs later today. That would be about 2.5% of the staff, which is about what they hired during the pandemic.
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something weird is happening rn
@TryingtoLava DAMN this is interesting.... hmmm lot to think about
DeWayfarer · 61-69, M
@TryingtoLava interesting yet stock increases often happen when big layoffs happen. Meta is laying off, yes. Yet that's basically a tech industry.

Cisco on the other hand is a food delivery industry and a big layoff isn't likely to help its stock because they really should be hiring massively.

Expect food prices especially at small grocery stores to soar because of this.

Cisco mostly delivers the small rural areas. What truly surprises me about Cisco laying off is it's main distribution hub is in Texas where labor is one of the cheapest in the nation.
@DeWayfarer o i never said CSCO stock hahaha trust me ik the 6M and its lookin pretty good more or less
@DeWayfarer Cisco systems,, not the food people the data people
not connection as far as I know
https://en.wikipedia.org/wiki/Cisco
DeWayfarer · 61-69, M
@TryingtoLava read the title...

Cisco Announces Layoffs And Restructuring
@SatyrService ya but peeps duno the diff of stuff like GOOG and alphabet aka none
DeWayfarer · 61-69, M
@SatyrService "systems" should be mentioned then.
@DeWayfarer ik this stock D i traded this stock ima day trader
@DeWayfarer the data company is very big. like no one says Ford Motor Company
DeWayfarer · 61-69, M
@SatyrService you don't know of Cisco food delivery? It's just called Cisco BTW. It's nation wide!
@SatyrService well TSLA is taking a beating but F has grown what like .1% in the 6M
@DeWayfarer ik the ticker silly
@DeWayfarer @Northwest
@DeWayfarer btw its refreshing to see peeps that know nyse hahahah
DeWayfarer · 61-69, M
@TryingtoLava I once had interests in Cisco. Even worked for them in San Antonio briefly.
@DeWayfarer OMF so you have stock in CSCO from the old times?
DeWayfarer · 61-69, M
@TryingtoLava no contract interests. I work for them on contract grind and sealing the floors in their refrigerated warehouse there!
@DeWayfarer :( aweeee
DeWayfarer · 61-69, M
@TryingtoLava more than you could possibly know. Its a constant 10 degrees Fahrenheit in that warehouse.
@SatyrService btw watch NIO :)
@DeWayfarer i do know cisco food operation, ate it all thru august till october