Report: Cisco not cutting jobs

There are no layoffs planned at Cisco at this time, despite the soft economy, Cisco CEO John Chambers is cited as saying in this Dow Jones story. The story doesn't reference where or when Chambers made this point - or give any quotes. The networking giant Monday is expected to finalize the layoff of 129 workers in Cisco's Richardson, Texas facility. But those cuts are part of a decision to halt operations within its Broadband Telephony Services unit at the facility, and not related to the economy.

During Cisco's Q1 earnings conference call, Chambers said the company would institute a hiring freeze. In one week in November, Cisco's job listings plummeted 93%.

UPDATE: It appears that Chambers' comments that were reported by Dow Jones may have been made at a Credit Suisse technology conference, which was reported by Reuters. Chambers is cited as saying that he's sticking by his long-term revenue growth of between 12% and 17% a year in the long run. "We're very comfortable, with the appropriate normal economic conditions, of growing our business in the 12 to 17 percent range," Chambers is quoted as saying.

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