Cisco announces another restructuring, to cut 6000 jobs now

  1. Computer networking and communications giant Cisco has announced that it would cut up to 6,000 jobs, or 8 percent of its global workforce, as part of a major restructuring. The announcement came after the company announced its fourth quarter results,...

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  2. Cycloid Torus

    Cycloid Torus TS Evangelist Posts: 1,528   +288

    I do wonder what has caused the loss of competitiveness in those countries reflecting decreased sales...... or am I being stupid and overlooking NSA backdoors and top end tech lost through foreign hacking.
  3. yRaz

    yRaz TS Evangelist Posts: 1,824   +876

    Meanwhile, in the board room.
    "hey we just made tons of money, do you know what would be a great Idea?"
    "no, what?"
    "Let's fire a bunch of people so we don't have to share it! We can call it restructuring"
    "great, lets do it"
    Skidmarksdeluxe and SalaSSin like this.
  4. Snowden

    Snowden TS Member Posts: 68   +31

    Run by Goldman Sachs?
  5. tipstir

    tipstir TS Ambassador Posts: 2,383   +105

    They make billions, have very high salaries for their executives, but yet want to cut out 6,000 to gain back more millions to increase the billions even higher. They get capital gains tax perks, they can even save more billions if they kept their HQ out of the USA. So all this to me is just another racket.

    Cisco is no different that the rest in this sort of racket to get a bigger piece of the action!
  6. Companies are made to make money, not provide jobs.
  7. yRaz

    yRaz TS Evangelist Posts: 1,824   +876

    that isn't what the GOP has been telling us
  8. tonylukac

    tonylukac TS Evangelist Posts: 1,291   +55

    I'm sure the ceo is a college graduate, as I've found many people working in companies/government who say they're college graduates aren't. If the profit was $4 billion would they cut 12,000 jobs? I don't sympathize with non college graduates in such positions as I had 4 bachelors degrees when I was 21.

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