Cisco Job Cuts Could Total 5K in August

July 2011
Channel Insider;7/12/2011, p1
The article reports on the possible more or less 5,000 employment cuts by Cisco Systems Inc. in August 2011 as it restructure its business. Gleacher & Co. analyst Brian Marshall says in a July 11 research note that the layoffs are needed to save about 1 billion dollar annually. It mentions the reduction of its long-tern financial targets improve its poor quarterly financial earnings. However, Cisco Systems has a strong valuation and holds about 70% of the core routing ahd switching market.


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