Breaking: Boeing Nationwide Layoffs Begin - Cisco Job Collapse (Video)
This is a 19 September 2024 video.
Boeing plans to freeze hiring and reduce travel and is considering temporary layoffs to save cash during the factory workers’ strike that began last week. The company told employees on 16 September 2024 the moves, which include reduced spending on suppliers, are necessary because “our business is in a difficult period.”
U.S. tech giant Cisco has let go of thousands of employees following its second layoff of 2024.
The technology and networking company announced in August that it would do a second round of layoffs, reducing its headcount by 7%, or around 5,600 employees, following an earlier layoff in February, in which the company let go of about 4,000 employees.
Cisco employees heard on 16 September 16 2024 about the layoffs the company reported on one month earlier. One employee told TechCrunch that Cisco’s workplace had become the “most toxic environment” they had worked in. TechCrunch also learned the layoffs also affect Talos Security, the company’s threat intelligence and security research unit.
IBM is keeping quiet while laying off a substantial number of employees this week. One IBM employee told The Register that IBM Cloud experienced “a massive layoff” in the past few days affecting thousands of people.
“Unlike traditional layoffs, this one was done in secret,” the insider said. “My manager told me they were required to sign an NDA not to talk about the specifics.”
https://youtu.be/Yb1lsyGIINY
0:00 – Intro
1:24 – Boeing Layoffs
6:10 – Cisco Layoffs
14:00 – AI to Replace People?
16:00 – Unemployment is Higher Than you Think
18:30 – Why Hide the Data?
20:30 – What Happened to Enforcement?
26:00 – Mass Appraisals
32:00 – Solutions
33:10 – Mitch’s Closing
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