Cisco announces record revenue and 4,000 layoffs in the same day
2026-05-16 13:51 UTC
Replies (30)
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@GreenKnight23@lemmy.world 2026-05-17 00:40
this is going to sound really harsh, but hear me out. stop working for assholes
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@reksas@sopuli.xyz 2026-05-17 18:08
dont work hard for companys, better they do more likely you will get laid off with everyone else. Might happen anyway, but if they dont do well they might think they actually need people to do work.
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@ZombieCyborgFromOuterSpace@piefed.ca 2026-05-16 15:15
In some countries, this is illegal.
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@SocialMediaRefugee@lemmy.world 2026-05-18 04:39
Well if you don’t have to pay people then yah, revenue will go up for now.
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@Auth@lemmy.world 2026-05-18 04:46
Seems fine, employees were well compensated and supported. Its a big company 4000 isnt a huge amount. Interesting to see a bigger pivot to silicon and optics.
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@sheetzoos@lemmy.world 2026-05-17 15:51
This will continue to happen until sociopath executives see consequences.
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@Switorik@sh.itjust.works 2026-05-16 14:44
I know someone who worked a weekend event to show case a product and they did extremely well going nearly 15k in sales. They made $50 for the few hours it took to generate that. The amount of effort to prepare for this, drive there, waste weekend hours working is not worth $50. Especially with how much gas is. I don’t understand why people don’t just say no.
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@floofloof@lemmy.ca 2026-05-16 14:41
Meta is doing the exact same thing: Mark Zuckerberg’s social media giant will reportedly hand out roughly 8,000 pink slips on Wednesday, May 20, eliminating about 10% of its global workforce. Notably, though, these cuts will arrive on the heels of one of the most lucrative quarters in the company’s history: $56.31 billion in revenue and $26.8 billion in net income for the first three months of 2026… moneywise.com/…/meta-layoffs-8000-workers-zuckerb…
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@nieceandtows@programming.dev 2026-05-17 21:30
What is the logical progression to this kind of a thing. Is there going to be a turning point or is bottom a long long way to go?
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@lechekaflan@lemmy.world 2026-05-18 06:26
Fucking suits. Shit like this is why I had to learn the trades as backup while I was still in the game, in this case training to be a computer technician.
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@HootinNHollerin@lemmy.dbzer0.com 2026-05-16 16:26
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@SnoringEarthworm@sh.itjust.works 2026-05-16 19:15
Me, after firing the Cisco CEO: We just made [$53 million](https://www.salary.com/research/executive-compensation/charles-h-robbins-executive-member-of-cisco-systems-inc) in revenue!
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@Assassassin@lemmy.dbzer0.com 2026-05-16 14:13
Despicable
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@falynns@lemmy.world 2026-05-17 11:49
American Capitalism 101. Sacrifice future growth for immediate profits.
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@Schal330@lemmy.world 2026-05-16 14:32
Can't be expecting the peasants to share in the success of their hard work! Better to fire them and rehire them for cheaper when they are desperate.
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@merdaverse@lemmy.zip 2026-05-16 22:01
Most of their profits are paid out to shareholders, like last year, and the year before that. Nobody should expect anything better from any capitalist corporation.
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@NottaLottaOcelot@lemmy.ca 2026-05-16 17:12
The stock market is a weird thing - prices seem to be tied to whether a company can make more this quarter than last quarter, and not tethered to whether a company makes a profit. I figure that they made record revenue and now need a strategy to make _even more profit_ next quarter, which they hope to achieve by reducing expenses via layoffs. I don’t like it, but the economy is more tethered to speculation than reality.
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@SnarkoPolo@lemmy.world 2026-05-17 16:01
You better thank the Job Creators for the right to work, Serfs! Now go gratefully into the gig economy, singing the praises of Tr*mp.
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@aeronmelon@lemmy.world 2026-05-16 14:37
“Correlation.”
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@felixwhynot@lemmy.world 2026-05-16 15:04
Line go up!!!
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@Triumph@fedia.io 2026-05-16 14:33
Revenue is not profit. I'm not defending them, but relating revenue to layoffs is apples and oranges.
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@some_guy@lemmy.sdf.org 2026-05-17 15:54
You guys, all those employees contributing to their huge profits were actually a liability and now they'll be so much more efficient. /s because people take sarcasm literally
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@thatradomguy@lemmy.world 2026-05-17 00:25
Cisco can take their campus fabrics/DNA and shove it up their arse. They stopped trying a long time ago and IOS is still a pain to use.
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@IWW4@lemmy.zip 2026-05-16 20:08
Same shit happened the last time Cisco laid off a bunch of people.
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@ozoned@piefed.social 2026-05-16 22:22
LINE GO UP ALWAYS AND FOREVER! As long as you don't look at all the other lines.
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@DandomRude@piefed.social 2026-05-16 18:49
The U.S. system as it has always been.
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@SocialMediaRefugee@lemmy.world 2026-05-18 04:42
Part of me is glad I'm getting the hell out of this system in the near future. My heart goes out to younger people being royally screwed by it and I don't see any way out of it within that system.
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@BillCheddar@lemmy.world 2026-05-17 18:21
A wooden baseball bat starts at like $75 for quality wood and never runs out of ammo, in case you're worried that there are more rich sociopaths than there are bullets in your backpack.
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@W98BSoD@lemmy.dbzer0.com 2026-05-17 15:57
https://www.reddit.com/r/GenX/comments/1cmqbyl/remember_the_food_lion_scandal_in_1992/
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@newton@feddit.online 2026-05-17 13:46
👿