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Posted on 08/12/2024 7:19:37 AM PDT by ChicagoConservative27
Aug 9 (Reuters) - Cisco (CSCO.O), opens new tab will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said. The number of people affected could be similar to or slightly higher than the 4,000 employees Cisco laid off in February, and will likely be announced as early as Wednesday with the company's fourth-quarter results, said the sources, who were not authorized to speak publicly.
Reuters exclusively reported the job cut that San Jose, California-based Cisco announced in February, prior to the company announcing it. The company employed around 84,900 people as of July 2023, according to its annual filing. That number does not account for the February layoffs. Cisco did not immediately respond to a request for comment. Its shares fell nearly 1% after Reuters first reported the cuts. The stock was down over 9% this year as of Thursday's close.
(Excerpt) Read more at reuters.com ...
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Learn to code. Oh,...wait..
Checked on Reddit and sure enough back in 2022 they were saying layoffs happen every year.
I have a degree in computer science and I’m also an electronics engineer as well as a very capable electronics technician.
Lowest form of life in my computer world is “Coders”.
Only thing that they can do better than me is type faster.
I guess they can commensurate with the former John Deere employees.
“The company has been trying to incorporate AI products in its offerings and in May reiterated its target of $1 billion worth of AI product orders in 2025. ... The layoffs are the latest in the tech industry, which has been cutting costs this year to offset big investments in AI.”
expecting AI to somehow generate ginormous profits in the tech world is akin to expecting EVs to save the automotive industry ... bullshit pipe-dreams by ignorant clueless CEOs desperate for the NEXT BIG THING, but who have zero actual future vision ...
yeah, coding is the ditch-digging part of building a skyscraper ...
LOL, my son has a computer science and electrical engineering degree - first I called him a “programmer” and he got very angry, but not as angry as when I called him a “coder” - me, being a low tech normie, I had no idea. I asked what his job title is: “Senior Engineer” was the reply.
I then reminded him of the student loans I’d paid off for him so he could be a debt-free “senior engineer.”
I respectfully disagree.
Foundation is the most important part of a skyscraper.
Coders are more like the guys doing
the interior after it was designed.
I can write code all day long, but I really got paid to
do was to engineer and design things, so you know it will work per specification.
Jealous of your son?
ditch-digging is the first step in building a skyscraper AFTER it has been completely designed, the general contractor hired, the subs hired, permits obtained, the materials ordered and available to be delivered onsite just in time, cranes ready to be erected, etc. ... it’s essentially the first actual construction activity, and a somewhat mindless activity (depending upon soil conditions) ...
Much coding is sub contracted to people in India.
Things can’t be good in Silicon Valley.
I was thinking they could get jobs at Intel. Oh…wait. Never mind.
Dell isn’t exactly the land of milk and honey either.
I saw somewhere about 12 thousand to be cut.
Coders are no longer needed. AI can code in any language desired.
It can even write in machine language, skipping the human-oriented ‘programming language’.
Coding is one thing I never really got the hang of.
“ Dell isn’t exactly the land of milk and honey either.”
Dell cuts every year due to depressed margins that their clients squeeze from them. Only way for sales to get their commissions is by attrition.
Not surprised.
All I can say for Dell, buying for myself and enterprise, no complaints.
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