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Cisco to lay off 2,000 staff, but more at risk unless recession lifts

Discussion in 'News' started by wagnerk, Feb 6, 2009.

  1. wagnerk
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    wagnerk aka kitkatninja Moderator

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    Cisco to lay off 2,000 staff, but more at risk unless recession lifts



    Up to 6,700 jobs may be at risk at Cisco following CEO John Chambers' forecast that revenue will drop more sharply than expected.

    Chambers said yesterday that 2,000 of Cisco's 67,000 would go soon. He said the company was not yet considering a company-wide lay-off.

    He expected sales in the current quarter to fall 15% to 20% compared to the same time last year,up to twice the figure forecast by analysts.

    Read the rest of the article here.

    -Ken
     
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