Cisco reportedly lays off hundreds in San Jose

[OhioChick]

Source: Computer World

July 16, 2009 05:07 PM ET

Network World - Cisco reportedly laid off up to 700 employees Thursday from its San Jose headquarters.

According to several reports, including the Wall Street Journal and MarketWatch, the workforce reduction is part of the 1,500 to 2,000 positions earmarked for elimination early this year. Cisco is looking to cut between $1 billion and $1.5 billion in expenses during the economic downturn, which is hammering sales.

In the third quarter of Cisco's 2009 fiscal year, revenue fell 17%. Cisco is expected to record another double digit decline in sales for its fiscal fourth quarter, which ends later this month.Cisco acknowledged that it let some employees go this week but did not confirm the numbers in the various reports. Speculation has been swirling that the axe would fall at Cisco.

"This limited restructuring is part of our ongoing, targeted realignment of resources and was previously discussed on our fiscal second and third quarter 2009 earnings calls," a company spokesperson stated in an e-mail to Network World. "While Cisco constantly manages its business priorities, resources and overall employee alignment as part of our overall business management process, we are sensitive to the impact these decisions have on employees during this challenging economic environment. We are doing everything possible to minimize the impact on employees affected by the limited restructuring."Cisco has been quietly engaging in limited restructurings throughout the year, some related to the 1,500 to 2,000 positions publicy disclosed, and others not.



Read more: http://www.computerworld.com/s/article/9135610/Cisco_reportedly_lays_off_hundreds_in_San_Jose

---

More jobs down the shitter....

[Amerigo Vespucci]

1. I was one of the 8500+ laid off by Cisco in 2001...

...which, in hindsight, was probably one of the greatest things that ever happened to me, because I finally said "enough is enough" and started my own business.

Cisco is one back-stabbing little hell hole. I came down with the flu 3 times in the year and a half I worked there...one bout turned into walking pneumonia, and my doctor said "next stop: the hospital."

I hated that fucking place so much that I can't even put it into words. Just fucking hated every second and nano-second I spent inside of those walls.

ON EDIT: Did I mention how fucking much I HATED working there? Oh yeah...I guess I did. Well, it bears repeating.

:evilgrin:

[OhioChick]

2. Glad to hear that you got out...

And started up your own business. (Did you say that you didn't like it there?) :rofl:

[Psephos]

5. Just curious...personally speaking, how did you like working there?

:evilgrin:

glad you landed in a better place :)

[Amerigo Vespucci]

6. I've exceeded my personally-imposed daily quota of F-bombs just in this thread alone

Tony Soprano had a favorite expression on "The Sopranos" that sums up my feeling for my bosses and co-workers at Cisco Systems:

"Motherless Fucks."

:evilgrin:

And thanks, life is good.

:toast:

[MajorChode]

3. I wonder if they are going to stop making this...

[ChromeFoundry]

4. That's too sad...

I hope the former employees are able to find decent jobs. I'm not a big fan of Cisco products, but wish the best for the employees and the recently RIF'd.