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Cisco Systems reportedly preparing to lay off as many as 14,000 employees

By Shawn Knight ยท 15 replies
Aug 17, 2016
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  1. Cisco Systems is reportedly preparing a massive round of layoffs that would be the largest in the company’s 30+ year history.

    Sources familiar with the matter tell CRN that the largest maker of networking equipment in the world will soon lay off as many as 14,000 employees, or about 20 percent of its global workforce. The publication says the San Jose-based company will announce the cuts sometime during the next few weeks although the process is already in motion as many employees have reportedly received early retirement package offers.

    The company’s transition from hardware to a software-centric organization is said to be the motivating factor behind the cuts. One source told CRN that Cisco could be looking at richer margins but it will take some time before they’re able to get there.

    A recent filing with the U.S. Securities and Exchange Commission notes that Cisco had 73,104 employees as of April 20 of this year.

    Naturally, Cisco declined to comment on the matter.

    The cuts shouldn’t come as a huge surprise to those that have kept tabs on Cisco’s business operations. Back in January, for example, Wall Street analyst Trip Chowdhry with Global Equities Research predicted Cisco would cut 14,000 employees this year. In his report, Chowdhry said the fact that more customers are migrating to cloud services would necessitate cuts in Cisco’s hardware divisions.

    If this latest rumor proves accurate, Chowdhry would have been spot-on with his prediction.

    Image courtesy Ken Wolter, Shutterstock

    Permalink to story.

  2. MoeJoe

    MoeJoe TS Guru Posts: 702   +378

    The first 7000 were announced today ... if you can trust the MSM.
    LiveResistance likes this.
  3. LiveResistance

    LiveResistance TS Booster Posts: 85   +64

    Never ever trust the lying MSM.
    psycros likes this.
  4. psycros

    psycros TS Evangelist Posts: 1,806   +1,211

    But..but..they said Hillary had never done anything wrong and that oxygen is a poison and Trump eats babies and Obama was born in Hawaii..
  5. fastvince

    fastvince TS Enthusiast Posts: 70   +19

    Wow..feel sorry for the 14k that are losing their jobs.

    When the bottom line goes back up, they don't re-hire many people. They just dump the extra work on the ones that didn't get laid off.
    MoeJoe likes this.
  6. Lionvibez

    Lionvibez TS Evangelist Posts: 1,245   +414

    Yup just to get stressed out and leave in a few months so the rest might as well start looking now.
  7. fastvince

    fastvince TS Enthusiast Posts: 70   +19

    True. Also if most people are married and have 1 kid, than that means that it will effect 42,000 people.
    MoeJoe likes this.
  8. MoeJoe

    MoeJoe TS Guru Posts: 702   +378

  9. treetops

    treetops TS Evangelist Posts: 2,045   +206

    Now I understand your avatar, you parrot the news, loudly.
  10. petert

    petert TS Addict Posts: 200   +51

    I remember last year when I updated my Win 8.1 installation to Win 10 - their usually reliable VPN client broke the networking stack - no ethernet, no wifi, resinstalling the drivers didn't help, the VPN client could not be removed, etc. Took me three days to solve it - more correctly, I found a script somewhere and ran it to fix my ****.
  11. captaincranky

    captaincranky TechSpot Addict Posts: 12,761   +2,432

    Holy no sh!t, Trump eats babies! Oh well, I guess if you can afford them, they're cooked right, and your dinner guests go along with it...;).

    In any event, personally I loathe children, so that still isn't a good enough reason to vote for Hillary Clinton..!
    gibbstar likes this.
  12. davislane1

    davislane1 TS Grand Inquisitor Posts: 4,731   +3,749

    C'mon. She's clearly ill. Surely this is a reason to give her a vote? This will likely be her last shot at POTUS.

    Of course, expect Cisco et al to keep the layoffs (and visas) rolling in a kankles America.
  13. captaincranky

    captaincranky TechSpot Addict Posts: 12,761   +2,432

    Don't you mean Meno-POTUS distress? Besides, that's not even close to fatal.
  14. davislane1

    davislane1 TS Grand Inquisitor Posts: 4,731   +3,749

    Meno-POTUS explains her demeanor for the past five decades. But it doesn't explain away her inability to stand unassisted:


    Or the seizures:

    This looks to me like the early stages of malignant dissidence, wherein the conflict between the life one leads and the narrative about it is so great the resulting friction destroys the neural pathways responsible for motor control and, eventually, concludes with the brain cannibalizing itself.

    Based on the FBI's findings and whatever may turn up regarding the alleged hacks of the Clinton Foundation, she may have fewer than four years.

    This may or may not be ominous news for Cicso, who may or may not have financial stakes in the Clinton family.
    captaincranky likes this.
  15. fastvince

    fastvince TS Enthusiast Posts: 70   +19

    If Clinton wins, I'm sure she will expand the H-1B visa program, so there will be plenty of Immigrants to fulfill these Cisco jobs when the bottom line goes back up.
  16. Phr3d

    Phr3d TS Guru Posts: 400   +82

    "With all its hopes, dreams, promises, and urban renewal
    The world continues to deteriorate
    Give up!"
    (and vote against.. Not FOR anyone, mind you, but follow the political sheeple-express, perfected in 2004, and vote Against the 'bad' one! Then All your dreams will come True)

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