Cisco announces another restructuring, to cut 6000 jobs now

Himanshu Arora

Posts: 902   +7
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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Cycloid Torus

Posts: 4,713   +1,517
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.
 

yRaz

Posts: 3,574   +3,459
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"
 

tipstir

Posts: 2,854   +200
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!
 

tonylukac

Posts: 1,382   +72
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.