Tuesday, July 12, 2011

Cisco would consider removing 10,000 jobs

The U.S. telecoms equipment supplier Cisco is about to eliminate 10,000 jobs or 14% of its workforce, Bloomberg announced, Tuesday, July 12, citing two anonymous sources. According to Bloomberg, 7,000 jobs could be lost in the month of August 3000 more job cuts would correspond to early retirement. In May, the group announced quarterly results that have troubled analysts and investors.

A $ 1.81 billion, fourth quarter net income of the group is falling by almost 18% over one year for the second consecutive quarter. Sales, up from 4.8% to 10.87 billion dollars, is itself just as expected. In April, Cisco also announced the closure of small Flip video camera, purchased two years earlier, resulting in the elimination of 550 positions.

The group's management has embarked on a general strategy of indentation public activities which Cisco does not feel able to be number one or number two.

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