Saturday, 10 December 2016

Cisco axes 4,000 jobs despite $2.3bn Q4 profit

By Mary Lennighan, Total Telecom
Thursday 15 August 13

U.S. vendor to shed 5% of its global workforce at a cost of $550 million as weakness at Asia-Pacific business offsets signs of recovery elsewhere.

The world may be showing early signs of an economic recovery, but it is not happening quickly or consistently enough for Cisco, which plans to cut 4,000 staff in order to reach its revenue and profit growth targets for the current financial year. The announcement came at the networking equipment maker's fourth-quarter and fiscal full…

The world may be showing early signs of an economic recovery, but it is not happening quickly or consistently enough for Cisco, which plans to cut 4,000 staff in order to reach its revenue and profit growth targets for the current financial year. The announcement came at the networking equipment maker's fourth-quarter and fiscal full…

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