Yeah, the economy is just roaring along...
Great, isn’t it?
I hope the coming big crash on Wall Street hits soon, well before the election.
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BTW, one never seems to hear much out of Sun Microsystems these days, either. *cough*
Cisco - Spanish for “bend over”
One year ago, I predicted that my tech sector employer was going to have layoffs. Unfortunately, not only was my prediction correct, but it was a bigger layoff than I was expecting—it ended up being 12%.
I found a new job about six weeks before the layoffs started. I got out of the industry because I figured the industry was headed for a shakeup. I also got out of California because, well, it’s California.
Still no regrets.
They are going to hire 10,000 foreign nationals to take their place.
Yet we need 65,000 H-1B visas a year?
When I graduated from high school back in the 1960s, you could actually get a pretty good job with only a high school diploma. But not any more. I had a couple of jobs before I went into the Army. I got paid decent for those days. I think the old required by the government was $1.69 an hour back then, but my first boss hired me for $2.00 an hour!!!! Big buck for an 18 year old. I drove a school bus my senior years in high school. Back in those days, high school seniors drove most school busses. I made a whooping $95.00 per month to drive a bus with 60-70 screaming kids on it every day. I thought I was rich. Back then you thought IF I could get a job making $100 a week, I would be rich!!! That was the way it was back then. In the so called "good ole days!!!"
More like a major realignment with market forces:
“...the company transitions from its hardware roots into a software-centric organization.”
Software running on low-cost, powerful COTS servers will beat custom silicon based hardware every time. You drastically shorten the product lifecycle and can roll out new features very quickly.
I got let go from a company going through the same transition. It was brutal because you have old customers on legacy hardware that simply do not want to change and others who are eager to change to the new systems. You need to continue development of the old systems at some level for a period of years and support them while doing R&D on the new systems, train the SEs and sales team on how to sell the new stuff. It’s no longer a gross margin driven business and the sales dynamics change a LOT.
It is a VERY HARD transition for a company to make successfully. The barriers to entry for new competitors have been lowered a lot by getting rid of custom silicon.
Yepper! The ole economy is on cruise control. Just hummin’ along. /S
My former employers is being taken over by Dell.
They promised Dell $1 Billion in cost reductions the first year after the acquisition.
Cost reductions = layoffs.
Crap. I have an interview with them this week.
My husband has been with Cisco for 16 yrs this month. He’s says if you’re getting laid off, you’ll get a meeting notice with a higher up the night before. I’ve been fearing it ever since he turned 50.
For those in Rio Linda, that’s 19350 FTE jobs being cut before 31DEC2016. Also, for those in Rio Linda, FTE means FULL-TIME Employee.
Again, for those in Rio Linda, “Full-Time Employee” means someone who works 40 hours EVERY week (and then some), pays taxes from their payroll which ultimately goes to some BLM activist in Oakland and Compton.
Y’all do the math (iffin you can?) or I can do it fer-ya.
A ^base^ IT job in CA pays (what?) $80K/yr taxed at an average of 27%. That means each job contributes $21,600 to the annual payroll tax-load.
19350 jobs contributing $21,600 each means that the LOCAL economy will be losing $417,960,000. That almost 500-million dollars of tax loss in the Silicon Valley alone.
CRN is Computer Retail News.
The new norm in Obonzo’s “boomin’ economy.”
Hopey Hopey Change Change!
Meanwhile, their recruitment of H-1B foreign tech workers increases.
The CEO will get a big bonus. 20% of the workforce fired. The CEO should be gone as well.