Layoffs coming: Cisco plans $1B in cost cuts after forecasting revenue drop

[sureshkonda]

RESEARCH TRIANGLE PARK – Tech giant Cisco is planning to cut $1 billion in expenses – including layoffs – this quarter but the news didn’t prevent its shares from tumbling 5% Wednesday after disclosing earnings and revenues that had beaten Wall Street expectations.

The company operates one of its largest corporate campuses in RTP with several thousand employees.

CEO Chuck Robbins – now in that job for five years – laid out some reasoning and details in a conference call with analysts.

“Based on the many conversations we’ve had with our customers around the world, we believe we have perspective into how they will adapt their technology strategies for the future to ensure greater resiliency, agility, and innovation. We know how to adapt our business’s strategy to align with where our customers are headed,” Robbins, a UNC-CH graduate, explained.

“The changes we are making to our business reflect how we are leveraging our existing strengths, investing for growth, and unlocking new opportunities. We will also be very disciplined on our cost structure, as we always have been.

[Sreeven]

Vadi bond first orders ni ontime process cheyamanu..anni China lo pettukunnadu and delay is 3 to 5 months..a ucs technology sucks now..still old 

[ChinnaBhasha]

ma friend okadu contractor ga working ciscolo... untada peekutada? 

[kothavani]

60 billion company baa billion cost saving ekadi ninchi aina chestaru its so so big

[manadonga]

dell lo 30 %  lu lestayi antunaru ee year ee year 150 k employees vunnaru mottam 

highest for tech company 

[snoww]

Happens every year in cisco. 

Oka side firing. Inko side more money ichi hiring. 

[kothavani]

11 minutes ago, manadonga said:

dell lo 30 %  lu lestayi antunaru ee year ee year 150 k employees vunnaru mottam 

highest for tech company 

elwaction varaki em kaadu bro they are getting lot of rebates from govt for holding employees tatha will bless apadi varaki businessrevive aithr n