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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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  • (Score: 3, Interesting) by mendax on Wednesday August 17 2016, @05:01PM

    by mendax (2840) on Wednesday August 17 2016, @05:01PM (#389188)

    As a Cisco Systems stock holder I keep an eye on these things. Given all the layoffs they've done in the past, the company has probably in total laid off its entire work force. Why anyone would work for them is beyond me given its fondness for such nonsense. The company pisses away a lot of talent through these things.

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  • (Score: 2) by tibman on Wednesday August 17 2016, @06:00PM

    by tibman (134) Subscriber Badge on Wednesday August 17 2016, @06:00PM (#389215)

    When that many people are fired i don't think they could legitimately "trim the fat". Whole departments will just cease to exist.

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  • (Score: 0) by Anonymous Coward on Wednesday August 17 2016, @06:08PM

    by Anonymous Coward on Wednesday August 17 2016, @06:08PM (#389224)

    When you need a job and get an offer, well it really is that simple.

  • (Score: 4, Insightful) by http on Wednesday August 17 2016, @06:17PM

    by http (1920) on Wednesday August 17 2016, @06:17PM (#389230)

    Why are you still holding stock in a company that you believe nobody wants to work for? It makes no economic sense. If your belief is right, holding is a fool's errand; if wrong, you're a jerk poisoning the well - and that's somehow fine if you get your bucket of water out first?

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    • (Score: 4, Informative) by mendax on Wednesday August 17 2016, @07:41PM

      by mendax (2840) on Wednesday August 17 2016, @07:41PM (#389261)

      Because believe it or not it has done well over the years.

      --
      It's really quite a simple choice: Life, Death, or Los Angeles.
      • (Score: 0) by Anonymous Coward on Wednesday August 17 2016, @11:18PM

        by Anonymous Coward on Wednesday August 17 2016, @11:18PM (#389367)

        And this is why I own Oracle