Latest Breaking News

melm00se

(4,999 posts) Wed Aug 17, 2016, 11:17 AM Aug 2016

Cisco to lay off about 14,000 employees: tech news site CRN

Source: Reuters via Yahoo

Cisco Systems Inc is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker's global workforce, technology news site CRN reported, citing sources close to the company.

Cisco, which is due to report fourth-quarter results later on Wednesday, is expected to announce the cuts within the next few weeks, the report said.

Read more: http://finance.yahoo.com/news/cisco-systems-lay-off-14-012523244.html

8 replies

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Cisco to lay off about 14,000 employees: tech news site CRN (Original Post) melm00se Aug 2016 OP

And how much is Cisco's CEO going to profit off this? Initech Aug 2016 #1

14k !!!! OMG LittleGirl Aug 2016 #2

that's worldwide melm00se Aug 2016 #3

considering how Europe supports LittleGirl Aug 2016 #4

Don't forget that melm00se Aug 2016 #5

when they say WORLDWIDE Skittles Aug 2016 #8

so the 14K layoff number melm00se Aug 2016 #6

Yes. From TWSJ.: "Cisco Plans to Cut 5,500 Workers" mahatmakanejeeves Aug 2016 #7

Initech

(100,182 posts)

1. And how much is Cisco's CEO going to profit off this?

Reply to melm00se (Original post)

Wed Aug 17, 2016, 11:45 AM

Aug 2016

LittleGirl

(8,292 posts)

2. 14k !!!! OMG

Reply to melm00se (Original post)

Wed Aug 17, 2016, 01:11 PM

Aug 2016

that's huge.

melm00se

(4,999 posts)

3. that's worldwide

Reply to LittleGirl (Reply #2)

Wed Aug 17, 2016, 01:24 PM

Aug 2016

no one has said how many will happen in the USA.

LittleGirl

(8,292 posts)

4. considering how Europe supports

Reply to melm00se (Reply #3)

Wed Aug 17, 2016, 01:43 PM

Aug 2016

workers, I would imagine that most of those will come from the states. No union in those jobs. And it's legal here.

melm00se

(4,999 posts)

5. Don't forget that

Reply to LittleGirl (Reply #4)

Wed Aug 17, 2016, 03:29 PM

Aug 2016

global companies have to have a significant presence in Asia.

Skittles

(153,448 posts)

8. when they say WORLDWIDE

Reply to melm00se (Reply #3)

Thu Aug 18, 2016, 06:11 PM

Aug 2016

the majority will be AMERICA

melm00se

(4,999 posts)

6. so the 14K layoff number

Reply to melm00se (Original post)

Wed Aug 17, 2016, 04:36 PM

Aug 2016

was high. their press release says 5500 (7% of their workforce).

mahatmakanejeeves

(57,876 posts)

7. Yes. From TWSJ.: "Cisco Plans to Cut 5,500 Workers"

Reply to melm00se (Reply #6)

Wed Aug 17, 2016, 08:02 PM

Aug 2016

Cisco Plans to Cut 5,500 Workers

Company will incur $700 million of charges related to the cuts, which amount to 7% of its total workforce

By Don Clark
[email protected]
http://twitter.com/donal888

Updated Aug. 17, 2016 6:50 p.m. ET

Cisco Systems Inc. is cutting 5,500 employees—7% of its workforce—in the networking company’s latest reaction to market shifts, including customers favoring software over hardware.

The reduction beginning this quarter renews a pattern of midsummer moves to shed costs and make room to hire employees with new talents.

The job cuts, disclosed with its fiscal fourth-quarter financial results, mark the most dramatic move yet by Chief Executive Chuck Robbins, who a year ago assumed a position held for two decades by John Chambers, who remains the company’s chairman.

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