TITLE

Cisco Job Cuts Could Total 5K in August

PUB. DATE
July 2011
SOURCE
Channel Insider;7/12/2011, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
63020059

 

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