Archive for the 'Cisco' Category
Wednesday, August 5th, 2009
Cisco Systems Inc., the largest maker of networking equipment, predicted that revenue will drop for a fourth straight quarter as the recession crimps orders of networking equipment. Revenue will fall 15 percent to 17 percent in the fiscal first quarter, which ends in October, the company said today.
Source: Bloomberg
Posted in Cisco, H1B, IT, IT consulting, India, Technology, US, hardware, outsourcing, software | No Comments »
Thursday, July 16th, 2009
Cisco Systems Inc. laid off several hundred employees on Thursday, as the company tries to control its costs amid declining sales.
Between 600 and 700 people were laid off at the company’s San Jose headquarters, according to a person familiar with the decision.
Source: WSJ
Posted in Cisco, H1B, IT, IT consulting, India, Technology, US, outsourcing, silicon valley, software | 248 Comments »
Friday, July 10th, 2009
Cisco Systems Inc is in the process of cutting between 1,500 and 2,000 jobs, according to an report from Thomas Weisel analyst Hasan Imam.
A Cisco representative was not immediately available to comment on the report, which also said that the company could exceed its plan to cut annual costs by $1 billion with job cuts.
Source: Reuters
Posted in Cisco | 32 Comments »
Monday, May 18th, 2009
Cisco Systems Inc CEO John Chambers said on Monday that he would stay in his role for at least another 3-5 years, reassuring investors there would be no imminent change in leadership amid a global economic slowdown.
[..]
“I love what I do. I’m going to retire here at Cisco and after that I will teach,” he said. “I intend to stay at Cisco for probably a minimum of three to five more years, assuming I can earn the shareholders’ trust, our employees’ trust, our customers’ trust, and assuming my health holds up.”
Source: Reuters
Posted in Cisco, Technology, US, software | 2 Comments »
Thursday, April 16th, 2009
Cisco Systems, Ins, Location: San Jose, CA, Layoff date: 4/17/09 Employees affected: 22
Cisco Systems, Ins, Location: San Jose, CA, Layoff date: 4/24/09 Employees affected: 233
Source: California EDD WARN (PDF document), SFGate
Posted in California, Cisco, H1B, IT, IT consulting, Technology, US, outsourcing | No Comments »
Tuesday, April 14th, 2009
With sales still in steep decline and no sign of recovery on the horizon, Cisco is expected to make a massive staff cut.
Analysts expect Cisco to guide fiscal fourth quarter revenue down 17%-22% year-over-year, as demand continues to deteriorate.
Cisco could also announce a 10% headcount reduction, which could save $900M annually, according to JPMorgan analysts.
Source: Yahoo Finance, TheStreet.com
Update 1 (04-14-2009): Cisco dismisses ‘hefty’ layoffs rumor. According to a Cisco spokesperson: “On our fiscal second quarter 2009 earnings call in February we discussed a limited restructuring where we could in the near term see a total reduction of between 1,500 and 2,000 jobs company wide. This does not represent a broad-scale layoff in our workforce”.
Source: The Register
Update 2 (04-16-2009): According to WARN listing, Cisco Systems cuts 255 jobs in San Jose, California in April 2009
Update 3 (04-30-2009): According to rumors, Cisco “will delay the 10% layoff planned in May. But we will get 1 week shutdown in August”.
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Posted in Cisco, H1B, IT, India, Rumor, Technology, US, hardware, outsourcing, software, worldwide | 271 Comments »
Monday, March 30th, 2009
Cisco Systems expects $47 billion of the federal stimulus money will be spent on technology.
Cisco’s fair share? About $1 billion, said Cisco’s senior vice president Bruce Klein during a visit to the company’s Research Triangle Park site Friday. Klein, based in Virginia, is responsible for making sure Cisco gets that share of the money.
Businesses like Cisco can’t receive the federal money directly, but only through projects financed by stimulus funds that are paid to local and state agencies. Toward that end, Klein put together nine teams across the company to pore over government documents and identify business opportunities with local governments, school districts, state agencies, university systems and health care organizations.
Source: News & Observer. Thanks anon for the tip.
Posted in Cisco, Stimulus, US | 5 Comments »
Wednesday, February 25th, 2009
According to Channel Web: “Cisco Systems (NSDQ:CSCO) confirmed to Channelweb.com that it has eliminated a number of positions in the U.S. and abroad as part of its realignment and restructuring initiative that will chop $1 billion out of its operating budget throughout fiscal year 2009.
Cisco would not confirm on Wednesday how many positions were cut. Sources, however, said employees started receiving notifications on Tuesday, and roughly 250 of the positions eliminated were based in San Jose, Calif. Overall, sources said, the number of employees affected was fewer than the 1,500 to 2,000 that Cisco CEO John Chambers hinted at on the company’s earnings call for the second fiscal quarter.”
Posted in Cisco, H1B, IT, Manufacturing, Technology, US, outsourcing, silicon valley, software, worldwide | 8 Comments »
Wednesday, February 4th, 2009
According to CNNMoney: “The global economic downturn will continue to hammer computer networking giant Cisco Systems Inc., chief executive John Chambers said Wednesday.
In its current quarter, Cisco expects to see revenue decline between 15% and 20%, he said in a conference call with analysts.”
“We are not going to consider (layoffs) at this time,” chief executive John Chambers said. But he added, that if Cisco was forced to cut jobs, it would likely be a large cut of about 10% of its workforce.
- Cisco employed 67,318 workers worldwide at the end of the second quarter.
Posted in Asia, Cisco, H1B, IT, IT consulting, India, Technology, US, silicon valley, software | 44 Comments »
Monday, December 8th, 2008
According to rumors from insider sources*, Cisco Systems to cancel several internal projects (including Web 2.0 and R&D projects), laying off IT contractors, most of them are H1B visa workers. Cisco IT contractors are not actual Cisco employees, they are working through ‘vendor’ companies (also known as ‘body shops’). But the layoffs are real. Most likely these layoffs will not be listed in the Company layoff statistics.
Update (02-04-2009): Cisco Systems: Possible large (up to 10 percent) jobs cut in 2009
Update (02-24-2009): Rumor: “1800 More just got laid off at Cisco”, Austin, TX
Update (02-25-2009): Cisco Confirms Global Job Cuts
Update (03-12-2009): Cisco quietly downsizing through outsourcing
*WARNING: We cannot guarantee the accuracy of information as it is only an individuals point of view. We will investigate and/or omit any complaints of inaccuracy.
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Posted in Bay Area, California, Cisco, H1B, IT, Rumor, Technology, US, silicon valley, software, unemployment | 446 Comments »
Tuesday, November 25th, 2008
According to Bloomberg: “Cisco Systems plans to shutter its North American offices for five days for the first time in more than a decade as it seeks to shave $1 billion in costs.
The company’s U.S. and Canada offices will be closed Dec. 29 through Jan. 2, Terry Alberstein, a spokesman, said in an e-mail today. Some teams including technical support will be working.
Customers are withholding orders because of the financial crisis, forcing Cisco to suspend hiring, business travel and relocations in a bid to cut expenses. Chief Executive Officer John Chambers forecast a revenue decline for the first time in five years for the second quarter, which ends in January.”
Posted in Bay Area, California, Cisco, FYI, IT, Technology, US, silicon valley, software | No Comments »
