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Axe falls at Cisco

Hundreds laid off at San Jose headquarters this week

By Cisco Subnet on Thu, 07/16/09 - 4:32pm.
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As some expected, Cisco pared its workforce this week in keeping with the 1,500-2,000 reduction target set earlier in its fiscal year. Various reports put the number as high as 700, most if not all in San Jose.

Cisco confirmed the action but not the number. The company said it's another "limited restructuring" resulting from an ongoing review of operations and realignment of resources to growth areas. Cisco is also looking to cut $1 billion or more in expenses this fiscal year in the face of declining sales.

Revenues are expected to drop in double digit percentages again in Cisco's Q4. The company reports results on August 5.

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About Cisco Subnet Blog

The Cisco Subnet blog is written by Network World managing editor Jim Duffy and is the official blog of Network World's Cisco Subnet community. The Cisco Subnet site is managed by Online Community Editor Julie Bort. Cisco Subnet is the independent voice of Cisco customers and is your gateway to daily Cisco news, blogs, opinion, books, prize giveaways and more. Visit the Cisco Subnet home page daily and while you are there, subscribe to the Cisco Alert e-mail newsletter, which includes news and views generated by the Cisco Subnet community as well as Cisco-related stories on Network World and elsewhere on the Web.