Cisco Systems, the largest networking equipment company in the world, will lay off 14,000 of its over 73,000 employees, according to a new report by CRN. The company is expected to announce the news in the coming weeks and has reportedly already starting offering many employees early retirement packages.
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(Score: 1, Insightful) by Anonymous Coward on Wednesday August 17 2016, @04:28PM
The stock price dropped 2% with the announcement.
The number of layoffs wasn't high enough for the Street.
(Score: 2, Touché) by Ethanol-fueled on Wednesday August 17 2016, @06:04PM
Well, judging from the stock price, having gaping (and likely deliberately placed) backdoors targeted by intelligence agencies had nothing to do with it...yet.
(Score: 2) by sjames on Wednesday August 17 2016, @09:13PM
The Street won't be happy until everyone not on The Street is laid off, then incarcerated in their private prisons busily making trinkets for their personal amusement.
(Score: 2) by VLM on Wednesday August 17 2016, @09:54PM
AKA the plantation model, or so I've heard it described.