Story 2014-08-14 3VR Cisco re-organization means 6000 to be fired

Cisco re-organization means 6000 to be fired

in hardware on (#3VR)
story imagePeter Cohan has five reasons you should dump your Cisco stock, if your portfolio includes any. His first reason is that Cisco appears to have lost its ability to keep up with a marketplace of quickly changing technology. In the last three years, Cisco has announced 21,000 firings - 11,000 in 2011; 4,000 a year ago, and now, a restructuring that will mean 6,000 more job cuts. It was announced on August 13. 6000 jobs are equivalent to 7% of its 74,000 person workforce.

From Reuters:
"The market doesn't wait for anyone. We are going to lead it, period," Chief Executive Officer John Chambers told analysts on a conference call. "The ability to do that requires some tough decisions. We will manage our costs aggressively and drive efficiencies."

Chambers partly blamed the cuts on the uncertainty in global demand. In emerging markets, where the company faces sluggish sales and increased competition, Cisco saw continued challenges. China product orders fell 23 percent, and Brazil had 13 percent declines.
Reply 6 comments

Lost (Score: 2, Interesting)

by on 2014-08-15 14:23 (#3W5)

"We will manage our costs aggressively and drive efficiencies."

Wonderful, except efficiencies isn't a product.

Copycats (Score: 2, Funny)

by Anonymous Coward on 2014-08-15 14:50 (#3W7)

They saw what the Australian government was doing and decided that it would be fun to tag along for the ride

Cisco (Score: 2, Insightful)

by on 2014-08-15 18:02 (#3W9)

Announced at the same time as Cisco BGP routers overflowing and causing problems on the Internet...

Re: Cisco (Score: 1)

by on 2014-08-15 21:41 (#3WB)

Yeah boy, they're drowning at the moment, that's for darned sure. In this market if you're not fighting to innovate, you're going to be roadkill sooner than later, and buying smaller countries is not an effective, long-term strategy. Right, Sun?

Jean-Baptiste Emanuel Zorg (Score: 1)

by on 2014-08-20 01:12 (#3ZG)

"Fire one-million. You heard me. One million!"