Thursday, August 14, 2014

Cisco Systems Plans to Cut 6,000 Jobs - WSJ

Big challenges and changes for Cisco

"The moves by the Silicon Valley giant, known for networking hardware, come as Cisco's fourth-quarter financial results topped its projections and showed signs that the worst of a recent slowdown is over.

Nevertheless, the company still hasn't been able to return to growth. Cisco's fourth-quarter profit slid 1% on revenue that edged down 0.5%.

John Chambers, Cisco's chief executive, in an interview said the job reductions are designed to make room for adding different kinds of skills rather than cutting total costs. Shedding employees in declining businesses, he said, will allow the company to add needed skills in units that are growing."
Cisco Systems Plans to Cut 6,000 Jobs - WSJ
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