Author Topic: Cisco announces plans to lay off 4,000 employees; stock skids  (Read 900 times)

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Offline Cincinnatus

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Cisco stock plunged Thursday, a day after it announced plans to lay off 4,000 employees, or 5 percent of its work force. The company said it will take a charge for the restructuring in the fiscal first quarter.

Shares of the world's biggest network equipment maker were down more than 8 percent in premarket trading Thursday.

A Cisco executive, Chris Dedicoat, defended the job cuts Thursday, saying the company had to try to predict where the growth opportunities were and where workers were needed. "We have to make sure we have the right people with the right skill sets in the right place," the chief executive for Europe, Middle East, Africa and Russia told CNBC...

Cisco has been trying to use its networking prowess to branch out into a broader range of products and services, in mobile, cloud-computing and video communications. Optimism has reigned lately, with shares climbing 24 percent since mid-May, before the earnings release.

Cisco said Wednesday it expected revenue to grow by 3 percent to 5 percent in the current quarter, and forecast profit in line with Wall Street.

Chief Executive John Chambers said he saw "slow, steady improvement, but not at the pace we want."

Chambers' commentary is closely watched by investors as Cisco is regarded as a strong indicator of the general health of the technology industry because of its broad customer base.

http://www.cnbc.com/id/100956090
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famousdayandyear

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #1 on: August 15, 2013, 11:25:25 PM »
Yikes.  Did the NSA cut their orders for servers/routers?  Oh noes!

Offline Oceander

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #2 on: August 15, 2013, 11:27:55 PM »
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A Cisco executive, Chris Dedicoat, defended the job cuts Thursday, saying the company had to try to predict where the growth opportunities were and where workers were needed. "We have to make sure we have the right people with the right skill sets in the right place," the chief executive for Europe, Middle East, Africa and Russia told CNBC...

It is a hard indictment of the present state of this country when a company has to defend sensible business decisions.

famousdayandyear

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #3 on: August 15, 2013, 11:33:11 PM »
It is a hard indictment of the present state of this country when a company has to defend sensible business decisions.

And according to the quote, a troubling UNcertainty about conditions in ME, Africa, Europe, and other international markets.   Add to that a crumbling State Dept and fumbling foreign policy objectives. 

Offline Scottftlc

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #4 on: August 15, 2013, 11:49:10 PM »
And according to the quote, a troubling UNcertainty about conditions in ME, Africa, Europe, and other international markets.   Add to that a crumbling State Dept and fumbling foreign policy objectives.

The whole world is crumbling into chaos...the former superpower is taking bong hits and dreaming of communist utopia.  The world economy will reflect the mayhem that comes from the lack of leadership and uncertainty about the structural environment.
Well, George Lewis told the Englishman, the Italian and the Jew
You can't open your mind, boys, to every conceivable point of view

...Bob Dylan

Offline Oceander

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #5 on: August 16, 2013, 12:16:34 AM »
The whole world is crumbling into chaos...the former superpower is taking bong hits and dreaming of communist utopia.  The world economy will reflect the mayhem that comes from the lack of leadership and uncertainty about the structural environment.

Parallels to history are always perilous, but we do seem to be entering a period similar to the situation in the 1930s, pre-WWII.

Offline Scottftlc

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #6 on: August 16, 2013, 12:33:49 AM »
Parallels to history are always perilous, but we do seem to be entering a period similar to the situation in the 1930s, pre-WWII.

Yes, when another utopian, Wilson, helped lead an exhausted Western Europe into abdicating its leadership role.  It is the great failure of Democracy...the desire to party away and forget the necessity of diligence.
Well, George Lewis told the Englishman, the Italian and the Jew
You can't open your mind, boys, to every conceivable point of view

...Bob Dylan

Offline Scottftlc

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #7 on: August 16, 2013, 12:38:00 AM »
Which was actually 10 years prior to the time you cited...but such things are a pathway, and the 1930s were a direct result of Wilson and the subsequent Roaring 20s.
Well, George Lewis told the Englishman, the Italian and the Jew
You can't open your mind, boys, to every conceivable point of view

...Bob Dylan

Offline Oceander

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #8 on: August 16, 2013, 01:10:21 PM »
Which was actually 10 years prior to the time you cited...but such things are a pathway, and the 1930s were a direct result of Wilson and the subsequent Roaring 20s.

Agreed.  History is a continuum, a flow that is very long and very deep.

Offline kevindavis

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Re: Cisco announces plans to lay off 4,000 employees; stock skids
« Reply #9 on: August 16, 2013, 07:47:16 PM »
Parallels to history are always perilous, but we do seem to be entering a period similar to the situation in the 1930s, pre-WWII.

That is how I see it as well... The reason why we had a major victory in WWII is that we where unscathed (i.e. no factories or infrastructure not bombed or destroyed on the mainland). The reason why there was no WWIII was due to a strong American leadership. God willing there is a major conflict we will not be lucky..
To Clear things up...

Mueller has been one of the most respected individuals on the planet over the last 20 years.

Mueller is a Republican

Mueller was appointed by Republicans

Mueller doesn't determine if someone is guilty, The Judge and Jury do!

Get it!!!!

“You can go to live in France, but you can't become a Frenchman. You can go to live in Germany, but you can't become a German... But anyone, from any corner of the world, can come to live in the United States and become an American.”

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