Shaw Capital Working Management News Worldwide: Cisco braces for biggest
layoffs in its history
http://www.
reuters.
com/article/2011/05/12/cisco-idUSN1210284720110512
Thu May 12, 2011 5:26pm EDT
Analysts, on average, see Cisco cutting 3,000 jobs
* Could be...
More
Shaw Capital Working Management News Worldwide: Cisco braces for biggest
layoffs in its history
http://www.
reuters.
com/article/2011/05/12/cisco-idUSN1210284720110512
Thu May 12, 2011 5:26pm EDT
Analysts, on average, see Cisco cutting 3,000 jobs
* Could be biggest layoff in company s 26-year history
By Jim Finkle
BOSTON, May 12 (Reuters) - Cisco Systems Inc (CSCO.
O ) is expected to cut
thousands of jobs in possibly its worst-ever round of layoffs to meet Chief Executive
John Chambers goal of slashing costs by $1 billion.
Four analysts contacted by Reuters estimated the world s largest maker of network
equipment willeliminate up to 4,000 jobs in coming months, with the average forecast at
3,000.
That would represent 4 percent of Cisco s 73,000 permanent workers.
It also has
an undisclosed number of temporary contractors.
Cisco s previous record layoffs was set in fiscal 2002, when the company shed some
2,000 jobs, according to Canaccord Genuity analyst Paul Mansky.
That was back
Less
