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.
Yeah, the economy is just roaring along...
Great, isn’t it?
I hope the coming big crash on Wall Street hits soon, well before the election.
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BTW, one never seems to hear much out of Sun Microsystems these days, either. *cough*
Yep—Cisco has a lot of older products that actually relatively employee-intensive demands on their customers compared to what newer and more specialized competitors offer. They are on the defensive.
Saturation, virtualization, and optimization are the greater “culprits” here, if you must find a villain. All infrastructure work is cyclical and driven by demand. IT is not exempt from market swings and corporate decisions.
The notion that companies exist to provide lifelong employment hasn’t been true in my 50+ years. There are still plenty of IT jobs going begging; but neither the jobs, nor the technology, ever remain static. It is a industry predicated on continuing education. Adapt or die.
Cisco - Spanish for “bend over”
That's a concept that is very, very hard for most people to grasp. But if it were true, then it would mean the re-emergence of serfdom as an economic model.
One year ago, I predicted that my tech sector employer was going to have layoffs. Unfortunately, not only was my prediction correct, but it was a bigger layoff than I was expecting—it ended up being 12%.
I found a new job about six weeks before the layoffs started. I got out of the industry because I figured the industry was headed for a shakeup. I also got out of California because, well, it’s California.
Still no regrets.
A Crummy Commercial..HEH HEH Drink your Ovaltine.
I work in IT at a company that does fulfillment and depot repair for Cisco and several other vendors and I just received my 2 weeks notice yesterday. I don’t feel too bad about it, as I started there on a 3 month contract 28 months ago.
The remaining IT staff all bring in curry for lunch and are getting paid about half of what I was. I guess they can hold all their meetings in Hindi now that I won’t be there.
HAHAHAHA/s It is the largest networking company in the world. A CCNA can make 90k without a degree.
Sun Micro simply priced themselves out of the market and out of business. Same with Silicon Graphics. They were great systems, but they were mega expensive and a basic cost benefit analysis pointed straight to the Windows/Intel.
They are going to hire 10,000 foreign nationals to take their place.
The workstations ate the supercomputers’ lunch, the PC ate the workstations’ lunch, and mobile devices have put on their napkin and are walking down the buffet line...
Yet we need 65,000 H-1B visas a year?
B.S. It is H1Bs and “off-shore” or what HP calls “best-shore” that is causing American IT workers to lose jobs. I will have nowhere to land because there will be no jobs left for white older American workers and not because I need to adapt!
When I graduated from high school back in the 1960s, you could actually get a pretty good job with only a high school diploma. But not any more. I had a couple of jobs before I went into the Army. I got paid decent for those days. I think the old required by the government was $1.69 an hour back then, but my first boss hired me for $2.00 an hour!!!! Big buck for an 18 year old. I drove a school bus my senior years in high school. Back in those days, high school seniors drove most school busses. I made a whooping $95.00 per month to drive a bus with 60-70 screaming kids on it every day. I thought I was rich. Back then you thought IF I could get a job making $100 a week, I would be rich!!! That was the way it was back then. In the so called "good ole days!!!"
You know what Cisco’s response will be.
Go to Washington and throw some money around in order to get the clowns to pass some new laws and regulations that will cripple their competition.
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