Cisco to lay off about 14,000 employees
Let's just say the average salary is 70k which is very conservative.  That is 14k * 70k annually lost from the local community, a grand total of 980M or let's just say 1 billion annually.<p>Looking for another job when there are massive cuts like this also degrades the salary they accept on their next job because of the competition.<p>I wish companies, if possible, throttled layoffs a bit more instead of large chunks like this, but that is unlikely as the board/CEOs are looking for a stock uptick when they do and don't want to drag it out to affect the market value (translation: their own pay / stock value/price).<p>We rarely look at the amount of money lost in communities when things like this happen but it would be nice if reporters put out the lost community dollars/salaries along with the layoff number. The Great Wage Stagnation continues in our consumer driven economy.