cisco axing 14% of staff, economy is fuked

[wtf]

http://www.bloomberg.com/news/2011-07-11/cisco-may-cut-about-5-000-jobs-in-august-gleacher-analyst-says.html

[topgame85]

People thinking we were in and got out of he deep end, little do they know we are swimming in the kiddie pool compared to the water we will be under soon.

[lemart5]

Pepole need to start saving cash.

[G's pks]

Cisco does not run the world and tech stocks always hurt you...

[topgame85]

Pepole need to start saving cash.

Not the US dollar......

[wtf]

Cisco does not run the world and tech stocks always hurt you...

cisco is the core of all networks globally and a defacto standard in the industry

if they are hurting it is a bellweather to the economy at large

they obviously "staffed up" for impending growth, WHICH DID NOT HAPPEN

[G's pks]

cisco is the core of all networks globally and a defacto standard in the industry

if they are hurting it is a bellweather to the economy at large

they obviously "staffed up" for impending growth, WHICH DID NOT HAPPEN

tech stocks and the bubble back in 2001 and cisco was way down...the world survived...the economy is bad due to bad paper...with the banks on mortgages...

What do you own a few hundred shares...

[flyingillini]

G's, at one time, I had over 200k worth of Cisco.... those were the days........ Lost it all with shit stock......

[Boxing Champ]

You used to have $200,000 in Cisco stock...Now all you have left is 12 SBR points....

[zam77]

Not a surprise. Not much to look forward to. 2nd 3rd and even 4th wave of job cuts are yet to come in most major industries.

[vyomguy]

this was long over due for cisco.

[flyingillini]

You used to have $200,000 in Cisco stock...Now all you have left is 12 SBR points....

What do the two have to do with each other? In reality it's not even that... Baruch HaShem...

[EmpireMaker]

Pepole need to start saving cash.

That'll get us out of this depression alright

[BookiesBernanke]

Dont worry, I hear Staples is hiring

[wtf]

tech stocks and the bubble back in 2001 and cisco was way down...the world survived...the economy is bad due to bad paper...with the banks on mortgages...

What do you own a few hundred shares...

this isnt about shares, i own no cisco shares

but to underplay the role cisco has with global core infrastructure is naive

they touch EVERY industry and almost everything we do on a daily basis

almost no product has this amount reliance on it, outside of mircosoft

they are a true global utility

[FreeFall]

Cisco is a shit company. They blew up and now they need to shrink. Ask the employees that work there you will find out.

this isnt about shares, i own no cisco shares

but to underplay the role cisco has with global core infrastructure is naive

they touch EVERY industry and almost everything we do on a daily basis

almost no product has this amount reliance on it, outside of mircosoft

they are a true global utility

I can think of two dozen "true global utility" tech companies that aren't downsizing...

[CarpeDime]

no

well will cut taxes for the rich and then they will buy more stocks such as cisco which will make the stock go back up again and then they will make more jobs

then we will cut corporate tax for cisco and then they will make more jobs

simple common sense

[Statman]

I work for a large IT company and we have had annual summer layoffs for every year over the last 10 years. It's commonplace now and does not matter how long you've served or how valuable you are. The bottom line is there is a number beside your name representing how much you cost the company and it can quickly be determined how much the company can save if your removed from the equation. It's all in the name of shareholder value.

[jjgold]

Tech stocks cannot get going for the most part

Times change too fast for a lot of these companies to keep up

[k13]

Meh cisco is not really a big deal. Shareholders will be happy, cutting out some fat.

If you only Apple would go bankrupt then that would be great.

[wtf]

Cisco is a shit company. They blew up and now they need to shrink. Ask the employees that work there you will find out.



I can think of two dozen "true global utility" tech companies that aren't downsizing...

name two ?

microsoft yes

apple, ha , no

apple sells toys to kids

[str]

Banks created it.

Politicians allowed it.

[pico]

all the unemployed people are going to be networking on facebook, so bet your farm there

[Brock Landers]

better them than me

[pavyracer]

Market is about to get a huge correction like it did in 2008-2009. Europe is in trouble and the US will soon default it's debt.

[stevenash]

[/B]


name two ?

Foxconn
Microsoft
Intel
Oracle

[FreeFall]

Foxconn
Microsoft
Intel
Oracle

Samsung
Hewlett-Packard
Hitachi
IBM
Sony
Thosiba
Panasonic
Bokia
Fujitsu
NEC
CanonSharp
Mistsubisih
Motorola
Asus

I hope you are getting the point and I'd recommend you get out of your bubble because you seem pretty one-sided.

[bb_skoots]

all the unemployed people are going to be posting on SBRforum.com/players-talk, so bet your farm there

[Deep_Rest]

I see this as Cisco getting a nice tummy-tuck to make themselves more attractive when they try and sell themselves on the corner.

The most likely "John" IMO is Oracle...even though they just bought Sun Microsystems in 2010, they have the capability and are headed by a beast in Larry Ellison–who is completely ruthless but also a genius.

[Reload]

We should have some SBR Points thrown into the severance packages.

[opie1988]

Samsung
Hewlett-Packard
Hitachi
IBM
Sony
Thosiba
Panasonic
Bokia
Fujitsu
NEC
CanonSharp
Mistsubisih
Motorola
Asus

I hope you are getting the point and I'd recommend you get out of your bubble because you seem pretty one-sided.

Good job here, Faller.

Freefall has no time for these ridiculous doomsday scenarios. Guy is busy moving and shaking in Silicon Valley.

[Maxmillion]

its just mind boggling that cisco had that many jobs that they did not need

[BigdaddyQH]

It is very simple. Cisco decided that nothing was going to get in the way of their profit margin. If that means laying off people because the Liberals screwed up and caused this economic mess, so be it. If the Liberals raise their taxes, Cisco will just lay off more people. What the Liberals and the moron in the White House had better learn is that this is the way things are done in this nation. No dumb arse in the White House or Liberal fool in Congress is going to dictate how much money private companies can make. Cisco and many more American Companies and individuals are sending Obama and his merry band of Liberals the same message: Take your taxes and your give away programs and shove them up your arse.

[bb_skoots]

It is very simple. Cisco decided that nothing was going to get in the way of their profit margin. If that means laying off people because the Liberals screwed up and caused this economic mess, so be it. If the Liberals raise their taxes, Cisco will just lay off more people. What the Liberals and the moron in the White House had better learn is that this is the way things are done in this nation. No dumb arse in the White House or Liberal fool in Congress is going to dictate how much money private companies can make. Cisco and many more American Companies and individuals are sending Obama and his merry band of Liberals the same message: Take your taxes and your give away programs and shove them up your arse.

Not sure where you got your info about the Cisco layoffs. Do you work for them? Or have inside knowledge?

[falconticket]

Who wants to pay 3000 bucks for a switch these days. Just by linksys. Same product different case. Cisco needs to rethink their direction.