Cisco denied reports that it is planning to lay off more workers beyond the 1,500 to 2,000 jobs that it is now in the process of cutting, reports Reuters.
Hasan Imam, an analyst at Thomas Weisel, said in a report that job cuts would help Cisco exceed cost cutting targets and gave the impression that more cuts would be coming beyond the ones the company announced during its quarterly conference call in February. Imam reportedly thinks that Cisco may expand its cost-cutting plan beyond the $1 billion target Cisco set in February.
At the same time, the analyst said he expects Cisco's July quarter revenue to beat the average Wall Street estimate.
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How Many Times?
How many times in the past 12 months has Cisco laid off 1000-2500 people? After a while, the numbers add up, even if they don't trigger the WARN act.
Layoffs..
It's always been the same 1000-2500 people, the media just keeps reporting the number over and over. From what I have seen, 2,500 would even be towards the high end of the people let go.
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