Cisco Laying Off 5,500 After Pushing For More H-1B Visas

[rangerrebew]

Cisco Laying Off 5,500 After Pushing For More H-1B Visas
Photo of Blake Neff
Blake Neff
Reporter
4:50 PM 08/17/2016
0
439
 
A visitor walks past a Cisco advertising panel at the Mobile World Congress in Barcelona February 27, 2014. REUTERS/Albert Gea/File Photo   A visitor walks past a Cisco advertising panel at the Mobile World Congress in Barcelona February 27, 2014. REUTERS/Albert Gea/File Photo

Update: In an evening press release, Cisco said it would be eliminating 5,500 jobs, rather than the 14,000 reported by CRN. That figure would still represent 7 percent of its global workforce.

Tech giant Cisco Systems, Inc. will be laying off a whopping 14,000 employees worldwide, representing nearly 20 percent of its global workforce.

The company has been a leader in calling for an increase in H-1B immigration visas that allow foreign workers to come into the U.S.

Read more: http://dailycaller.com/2016/08/17/cisco-laying-off-14000-after-pushing-for-more-h-1b-visas/#ixzz4I4ejTgyM

[Oceander]

Tech giant Cisco Systems, Inc. will be laying off a whopping 14,000 employees worldwide, representing nearly 20 percent of its global workforce.

Uh, question:  why would Cisco need H1-B visas for its global workforce?  I didn't realize that Indians in India needed U.S. work visas in order to work in India, just because their employer was a U.S. business, or a subsidiary of a U.S. business.

[mountaineer]

A puzzling story, to be sure. Here's another:

SAN FRANCISCO (AP) — Cisco Systems is laying off 5,500 employees as the internet gear maker scrambles to adapt to a technology upheaval that has triggered similar cutbacks to other storied tech companies.

The shake-up announced Wednesday means about 7 percent of Cisco’s roughly 74,000 workers will lose their jobs beginning this summer.

The purge is the latest fallout from a relentless march of innovation that has forced some of the world’s biggest and oldest technology companies to head in new directions in search of revenue growth.

Others that have been laying off thousands of workers while overhauling their product lines include Microsoft, the world’s largest software maker; Intel, the world’s largest maker of computer chips; and HP, a Silicon Valley pioneer that went to the extreme of splitting itself into two separate companies that have continued to cut back.

Tech companies for decades have been prodded into sometimes painful transitions as advances in computing and faster wireless connectivity open up fertile new markets for frequently nimbler and more motivated rivals to plow while the incumbent powerhouse stick to familiar ground. ...

The employees who have been losing their jobs throughout technology have been highly successful in finding other positions in the industry, as long as they have training in technical fields, said Todd Thibodeaux, CEO of CompTIA, a trade group that tracks industry employment. Laid-off workers in the finance, administrative and marketing departments of tech companies tend to have more trouble. ...  Full article at Daily Courier

No mention of visas.

[geronl]

They can do what Trump does, just hire foreigners

[MajorClay]

Disgusting if true.