Updated Jun. 5, 2014 at 8:58 a.m.

Premium Lock Cisco's COO: 'Thank God we had a crisis' that triggered layoffs

Published: 2014-06-05 07:55:00
Updated: 2014-06-05 08:58:50

Cisco's headquarters     Cisco's headquarters. (Cisco photo) Image 1 of 2 · Next Image…

In a candid presentation to Wall Street, Cisco's chief operating officer and president says the tech giant was "fat around the middle" and that he can "actually thank God" for the crisis that triggered thousands of layoffs and a restructuring three years ago. Those comments likely offer no comfort to the people who lost jobs, even if Cisco is better off as a company today after all the changes....

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As one of those laid off I can "actually thank God" that I no longer work there. Thanks to Cisco laying me off I finally got the promotion that they had been stringing me along on for over 3 years, a double digit pay raise, regular pay raises, and a much better work life balance. I was working 5 weeks after being shown the door so I also appreciated the severance. Thanks Cisco!
I wonder would he have said the same thing if he had been laid off?
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