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Cisco Systems to lay off about 14,000 employees: Report
CNBC.com ^ | 8/17/2016 | Reuters

Posted on 08/17/2016 5:01:58 AM PDT by mykroar

Cisco Systems Inc is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker's global workforce, technology news site CRN reported, citing sources close to the company.

San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, the report said, as the company transition from its hardware roots into a software-centric organization.

Apart from Cisco, two other big software companies, Microsoft Corp and HP Inc, have also announced job cuts this year.

Microsoft said in July that it would lay off about 2,850 jobs over the next 12 months, taking its total planned job cuts to up to 4,700, or about 4 percent of its workforce.

HP Inc said in February it would cut about 3,000 jobs by the end of fiscal 2016.

Cisco, which had more than 70,000 employees as of April 30, declined to comment.


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bhoeconomy; business; cisco; ciscolayoffs; computers; economy; hp; layoff; layoffs; msn; stockmarket; techindustry
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To: Magnatron

If they were eliminating the position you’re interviewing for, they’d have cancelled the interview. Just because they’re dumping a wad of employees, doesn’t mean they’re not going to hire for new stuff. Cisco is still the 800lb gorilla in the network space, especially L3 switching and SAN, and they’re not likely to disappear anytime soon. Their UCS server systems are a significant competitor in the “cloud” arena.


41 posted on 08/17/2016 6:52:23 AM PDT by Little Pig
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To: mykroar

The new norm in Obonzo’s “boomin’ economy.”


42 posted on 08/17/2016 7:15:40 AM PDT by FlingWingFlyer (Let's Make Our Government and Founding Documents Great Again!)
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To: petercooper

For later.


43 posted on 08/17/2016 7:49:00 AM PDT by wally_bert (I didn't get where I am today by selling ice cream tasting of bookends, pumice stone & West Germany)
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To: mykroar

Hopey Hopey Change Change!


44 posted on 08/17/2016 7:49:40 AM PDT by dfwgator
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To: Calm_Cool_and_Elected

That’s what happened to me. A director sent a con-call invite on a Sunday evening to some 500+ attendees for an 8AM Monday call. However, the layoff affected only some 200 people on the call.

I knew exactly what it was about.


45 posted on 08/17/2016 8:00:23 AM PDT by Original Lurker
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To: AU72

I can believe it. Going to work is like walking into a foreign country.


46 posted on 08/17/2016 8:01:59 AM PDT by snippy_about_it
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To: Snowybear

I work at a big bank in a SE city in a group that’s 80% Indian as well. And they all hate Trump to boot. Very depressing.


47 posted on 08/17/2016 8:28:29 AM PDT by JacksonCalhoun (Morning shows are for morons)
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To: JacksonCalhoun

And that’s just the us-based. Of course there’s offshore as well, in equal or greater numbers.


48 posted on 08/17/2016 8:31:44 AM PDT by JacksonCalhoun (Morning shows are for morons)
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To: snippy_about_it

That is certainly true to a large extent in some companies, but it’s not the only reason. Cisco created an unsustainable business model, and other companies and technologies are redefining the entire space.

Workforce reductions due to H1Bs are driven by cost and have the largest impact in companies not interested in a quality product. The age discrimination is a separate, but related issue.

Many tech companies blatantly discriminate on age. I’m not suggesting that it’s fair or right, but it’s a well-known trait that has only grown worse. I’ve had many friends out of work, and the longer they stay out, the more impossible it becomes to get back. Many have started their own businesses or switched to another career, while some became dependents of Uncle Sam after depleting limited resources.

I’m not advising anything other than planning for disruption, no matter who is president or where the economy goes. When that disruption is age, it hits us all.


49 posted on 08/17/2016 8:40:35 AM PDT by antidisestablishment (If those who defend our freedom do not know liberty, none of us will have either.)
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To: mykroar

Meanwhile, their recruitment of H-1B foreign tech workers increases.


50 posted on 08/17/2016 8:48:29 AM PDT by CodeToad (Islam should be banned and treated as a criminal enterprise!)
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To: petercooper

I have been deploying and using Ubiquiti equipment at client sites and my own

The price is insanely budget friendly

I have heard of Silicom, sounds like I should take a closer look at them as well

Cisco, I haven’t deployed that stuff in years.


51 posted on 08/17/2016 8:55:33 AM PDT by arl295
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To: mykroar

The CEO will get a big bonus. 20% of the workforce fired. The CEO should be gone as well.


52 posted on 08/17/2016 10:37:12 AM PDT by minnesota_bound
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To: 9YearLurker

None of these employees will be replaced by Indian contractors. We promise.


53 posted on 08/17/2016 12:29:57 PM PDT by Uncle Miltie (This posting is a microaggression.)
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To: antidisestablishment

I would say that many of us, aged or not, would not have problems remaining employed if we stopped the import of workers and stopped the big IT companies opening operations and taking our work offshore.


54 posted on 08/17/2016 1:11:47 PM PDT by snippy_about_it
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To: mykroar

Cisco has now made a formal announcement saying that the layoffs will affect 5,500 people — significantly less than the 14,000 initially leaked. Still a lot, considering that this has been an annual event with the exception of last year when they hired their new CEO.


55 posted on 08/17/2016 1:28:41 PM PDT by Magnatron
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To: PreciousLiberty

It’s been propped up to crash after Donald Trump takes office, so it can be “Trumps Depression”.

/no, not sarcasm


56 posted on 08/17/2016 1:31:00 PM PDT by ro_dreaming (Chesterton, 'Christianity has not been tried and found wanting. It's been found hard and not tried')
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To: snippy_about_it

How would you suggest that from a Constitutional perspective? If I own a company, shouldn’t I be able to make my own choices regarding where I operate and whom I employ?

I say this as a 50s IT worker, so I have some skin in the game, here. National interest only extends so far. The only way that the US will increase jobs is by making it profitable to do so. That would require massive deregulation and downsizing the government.

Business restrictions are what led to this impasse, so I don’t view them as beneficial. Wages are only one consideration. Regulatory and compliance costs in the states are out of control. I say this from the perspective of one who grew up in small business.

As for the H1B problem, global trading has ways been a celebration of cronyism. Free markets require a level playing field, and the H1B program was conceived to do just the opposite. It’s another area where business and government have conspired at the expense of American interests. It should be eliminated completely.


57 posted on 08/17/2016 1:32:41 PM PDT by antidisestablishment (If those who defend our freedom do not know liberty, none of us will have either.)
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To: Uncle Miltie

Then if the company collapses because its competitors are all offshore? That’s a challenging question.


58 posted on 08/17/2016 3:15:37 PM PDT by 9YearLurker
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To: 9YearLurker

The Indian Contractors are ON Shore, with their H1B visas firmly clutched.

Thanks, Congress! American Tech Students need not apply.


59 posted on 08/17/2016 3:37:28 PM PDT by Uncle Miltie (This posting is a microaggression.)
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To: Uncle Miltie

Offshore too.


60 posted on 08/17/2016 3:53:41 PM PDT by 9YearLurker
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