Mark Elwa
0
All posts from Mark Elwa
Mark Elwa in Mark Elwa,

Cisco Cutting 6,000 Jobs as CEO Forecasts Stagnant Growth


Today i find another article about Cisco. I think this is a new trend in the sector. What do you think about it? I'm a little bit worried...

Cisco Systems Inc. (CSCO) Chief Executive Officer John Chambers is struggling to revamp the world’s largest networking-equipment maker, eliminating 6,000 jobs in a new round of cuts and forecasting little to no sales growth.

Including the latest firings, representing about 8 percent of Cisco’s workforce of 74,000, the company has gotten rid of 25,850 positions since February 2009, according to data compiled by Bloomberg. Revenue fell 3 percent to $47.1 billion in the fiscal year that ended July 26, the first decline in five years.

http://www.bloomberg.com/news/2014-08-14/cisco-cutting-6-000-jobs-as-ceo-forecasts-stagnant-growth.html