Cisco plans to increase operating expenses by 1 billion US dollars to prevent employees from leaving


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 Titan Media App August 20 news, on Friday local time, according to people familiar with the matter, Cisco (CSCO.US) plans to increase operating expenses by about $1 billion in the 2023 fiscal year that begins on July 31, some of which will be used for Increase employee compensation to prevent employees from leaving.    Previously, Cisco Chief Executive Chuck Robbins had told employees that they would only receive 84% of their target bonuses for their performance over the past year, compared with the 10-year average of 98%. Dissatisfaction with pay has reportedly risen among Cisco employees. The company's human resources department said in May that it would overhaul the pay structure, raising base salaries and reducing bonuses.

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