Cisco

Cisco Fires 5,500 Workers, About 7% Of Global Workforce

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– Cisco Fires 5,500; Market Disappointed It Wasn’t More – Shares Fall:

“Today’s market requires Cisco and our customers to be decisive, move with greater speed and drive more innovation than we’ve seen in our history. The restructuring will eliminate up to 5,500 positions, representing approximately 7 percent of our global workforce, and we will take action under this plan beginning in the first quarter of fiscal 2017.”

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US Espionage Blowback: China Drops Apple, Cisco From State Purchase Lists

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– US Espionage Blowback: China Drops Apple, Cisco From State Purchase Lists (ZeroHedge, Feb 25, 2015):

Another quarter of leaks of ubiquitous US espionage in every corner of the world, and sure enough we get another quarter of China just saying no to spending any more money on companies which are, as far as Beijing is concerned, a natural extension of the NSA. According to Reuters, China has just dropped some of America’s leading technology brands from its approved state purchase lists, chief among them Cisco (which already was hammered a year ago due to the Snowden revelations), and everyone’s favorite $1 trillion market cap or bust cell phone maker, Apple.

Read moreUS Espionage Blowback: China Drops Apple, Cisco From State Purchase Lists

‘Welcome to the Recovery’: Cisco To Cut as Many as 10,000 Jobs

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– Welcome to the Recovery (New York Times, by Timothy Geithner, August 2, 2010)

– Cisco May Cut as Many as 10,000 Jobs to Buoy Profit (Bloomberg, July 12, 2011):

Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans.

The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the people, who asked not to be identified because the plans aren’t final. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts, the people said.

Read more‘Welcome to the Recovery’: Cisco To Cut as Many as 10,000 Jobs