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: 3, Interesting) by mendax on Wednesday August 17 2016, @05:01PM
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.
It's really quite a simple choice: Life, Death, or Los Angeles.
(Score: 2) by tibman on Wednesday August 17 2016, @06:00PM
When that many people are fired i don't think they could legitimately "trim the fat". Whole departments will just cease to exist.
SN won't survive on lurkers alone. Write comments.
(Score: 0) by Anonymous Coward on Wednesday August 17 2016, @06:08PM
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
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?
I browse at -1 when I have mod points. It's unsettling.
(Score: 4, Informative) by mendax on Wednesday August 17 2016, @07:41PM
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
And this is why I own Oracle