To move

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What that means for us is we see a lot of investment in how they securely connect They're thinking about having employs both on site but also working from home and that's a different technology play from a people perspective This has been one of the most remarkable times Right now people are talking about this period as the great resignation And what they mean by that is we see a tremendous amount of people movement as well Yeah really important question when we think about the way that people are changing jobs the way that people are potentially leaving the workforce I want to go back to something you said about the transformation that you saw throughout the pandemic Do you see this as a permanent shift with a lot of your customers that their employees could be working from home forever I think a lot of our customers are figuring that out So I would say that there's a subset of our customers that absolutely have found greater productivity They see better employee engagement and they're going to continue to work hybrid I don't see as many absolutes where people are either going to be all in the office or at home I think they're figuring out the balance And then there's a subset of our customers that want to go back And that's something that we really question around Can we go back and the reason I put that forward is that employees around the globe are telling us that they want to work in a very different way I mean the horses left the bar and right when it comes to hybrid work I think safe to say that there's probably been tons of focus groups pre-pandemic can it work and not Maybe we're not ready I mean the pandemic made no choice And it worked Yeah that's why we refer to this last period as not only challenging from a human perspective but an experiment around work where we've learned a lot And I think for some companies this question that they had has now been answered and that they can work they can innovate they can collaborate and in some cases they can be even better with this hybrid because they can get to talent than in the past they couldn't before Well how has the talent acquisition process been How has talent retention been at Cisco Systems You said that some people are referring to this as the great resignation we hear about the labor struggle that employers are facing right now Tell us what it's been like for you And fed chief Jay Powell talking about It's a really tight labor force It is So we experienced that as well What was so fascinating was when we first went into the pandemic we paused for a few weeks just from a hiring perspective And we were just kind of getting our legs under us and understanding what this was going to be And then we had this realization that we were in this for quite some time and we started the hiring process And what we found was leveraging video leveraging the interview processes that we have we hired like never before and in fact I would tell you that last year was probably one of the biggest hiring years that we've had as a company That amazing And so many employees have never met any of their colleagues face to face It's a position I'm in I started in October last year here Yeah exactly And there's people that he's now meeting is like I've been talking to you via remote And now I'm finally meeting you It's a very different world Yeah I had a really funny experience last week where two colleagues were meeting I happened to be there And one of the colleagues said we're Friends though Even though I'm meeting you for the first time And so what I would say is for all companies we do see that there is a reduced labor pool We're working incredibly hard to differentiate ourselves to talk about what we stand for and to attract the talent that really wants to be with us as well You are reminding us that Cisco got a pretty big presence here in New York specifically We do it's such an important market for us So so many of our customers are based here It's a great place for talent A lot of the technology as well We're actually in a process at the moment of remodeling our presence here in New York and big part of that is hybrid work And so we're thinking a lot about when you come into the office how will you work And so I think you'll see our presence in New York look very different from what has been in the past What do you mean by that How is it going to be different So the biggest difference is fewer people will come into the office to work on email or to be in video call So when you come in now you're coming in to be with your team You're coming into be with customers And so the site has to be so much more team centric than ever before And so you're going to see a lot fewer of the cubes and the individual offices and a lot of huddle space How are you thinking about your presence in New York in the future in terms of headcount Yeah I would say it's a really important growth area for us And so we look at about 5 keys and areas across the U.S. New York is one of them And so we will continue to hire and really attract and recruit the best You talked about it being a tight labor market What's the New York labor market right now for the type of workers you're looking for Just got about 15 seconds It's incredibly competitive And so this is a place where the wonderful thing is is you see the skills that we're looking for Right But you see that the talent has a lot of different options So talk to us about the new commitments earlier this month you guys laid it out

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