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posted by CoolHand on Wednesday August 17 2016, @04:08PM   Printer-friendly
from the caring-for-the-workers dept.

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.

http://gizmo.do/oPt0LQG

-- submitted from IRC

Other Links:
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Zdnet
Fortune


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  • (Score: 1, Insightful) by Anonymous Coward on Wednesday August 17 2016, @04:28PM

    by Anonymous Coward on Wednesday August 17 2016, @04:28PM (#389170)

    The stock price dropped 2% with the announcement.

    The number of layoffs wasn't high enough for the Street.

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  • (Score: 2, Touché) by Ethanol-fueled on Wednesday August 17 2016, @06:04PM

    by Ethanol-fueled (2792) on Wednesday August 17 2016, @06:04PM (#389217) Homepage

    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

    by sjames (2882) on Wednesday August 17 2016, @09:13PM (#389298) Journal

    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

      by VLM (445) Subscriber Badge on Wednesday August 17 2016, @09:54PM (#389320)

      AKA the plantation model, or so I've heard it described.