After tech giant Cisco announced its second round of layoffs this year, employees told TechCrunch they won't know for nearly a month whether they'll be laid off.
Earlier this month, Reuters reported that Cisco was planning its second round of layoffs this year, after laying off about 4,000 workers in February. Cisco confirmed in an SEC filing last week that it was laying off 7% of its workforce.
According to several Cisco employees, employees were notified that new layoffs were coming, but the company refused to notify them until September 16.
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“This has become the most toxic environment I’ve ever worked in, and the tone evidenced by the comments on our internal platform is the darkest I’ve ever seen. I’m just waiting for the next big[limited stock unit]vest to leave, and I know others will be too,” a Cisco employee who requested anonymity to avoid retaliation told TechCrunch. “For this scale of layoffs to happen twice in the same calendar year is simply unacceptable.”
Another employee, who asked not to be named, said Cisco “needs to stop laying off employees every year and focus on innovation and generating more revenue.”
Cisco did not respond to a request for comment.
The San Jose, Calif.-based company announced its second round of layoffs this year after reporting lower-than-expected earnings. Quarterly net income fell 45% from a year earlier. Fourth-quarter revenue fell about 10% to about $13.6 billion.
The company’s CEO, Chuck Robbins, said Cisco had delivered a “strong finish to fiscal 2024.” Robbins earned $31.8 million in total executive compensation for 2023, according to company filings.
