u/BigShotBosh

Cisco announces plans to lay off 4000 employees

https://blogs.cisco.com/news/our-path-forward

>Today we announced our Q3 FY26 earningswith record revenue of $15.8 billion, up 12 percent year over year, and double-digit top and bottom-line growth. The ELT and I could not be prouder of the growth you have all delivered for Cisco.

>With this, we are making changes today that will result in the reduction of our overall workforce in Q4 by fewer than 4,000 jobs, representing less than 5 percent of our total employee base. Most notifications will begin on May 14 and continue globally in alignment with applicable local laws and regulations.

The hits keep coming

u/BigShotBosh — 9 days ago

▲ 417 r/cscareerquestions

https://www.wsj.com/business/earnings/paypal-to-cut-costs-after-profit-falls-dc42baf9?reflink=desktopwebshare\_permalink

From the article:

The planned reduction would amount to 4,760 positions based on the 23,800 employees PayPal reported having at the end of 2025.

The cost-cutting efforts are expected to yield, at a mini-mum, $1.5 billion in gross run-rate savings over the next two to three years, management said.

First-quarter revenue rose to $8.35 billion, from $7.79 billion in the year-ago quarter. Analysts were expecting $8.05 billion in revenue.

Transaction margin dollars, a closely watched measure of PayPal's profitability, rose 3% to $3.8 billion, the company said. Total payment volume rose 11% to $464 billion.

reddit.com

u/BigShotBosh — 17 days ago