Cisco COO Explains Plans Of Laying Of 6,000 Employees

Cisco COO Explains Plans Of Laying Of 6,000 Employees (Ping! Zine Web Tech Magazine) – Cisco says that its announcement earlier this month of the layoff of 6,000 employees should not have come as a surprise to anyone, considering this is the company’s fourth consecutive year laying off workers.

Cisco COO Gary Moore explained his reasoning behind the news with the following statement:

“This is the fourth [restructuring] in four years. … We constrained [hiring] requisitions for anyone listing [a new job]. As a leader, they knew they were constrained. We were very careful about where we added. Some leaders did a better job than others in terms of hiring and adjusting their expectations. We saw our revenue in the first half. We were very open with every employee about that. …  We’ve invested 2,000 people last year just in cloud. One of our growth areas. We hired 1,300 people through acquisitions and 25% of all people we hired were university hires [new college grads]. We need to as leaders see that and make room, not in a yearly, annual restructuring. It’s just a wrong way to do it.”

Though the company intends to layoff 8 percent of its workforce, they also plan on hiring more employees in areas such software, security, Internet of Things, cloud, and data center, reports BusinessInsider.

“We have to bring in new talent where we don’t have the experience,” said Chambers, naming software as an example of one of its growing divisions.