Results 1 to 2 of 2

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

  1. #1
    Senior Member JohnDoe2's Avatar
    Join Date
    Aug 2008
    Location
    PARADISE (San Diego)
    Posts
    99,040

    Cisco Systems announces 1,100 more layoffs (5,500 others)

    Cisco Systems announces 1,100 more layoffs


    • By THE ASSOCIATED PRESS

    SAN JOSE, Calif. ó May 17, 2017, 7:40 PM ET


    The Associated Press
    FILE - This Wednesday, May 9, 2012, file photo, shows an exterior view of Cisco Systems Inc. headquarters in Santa Clara, Calif. Cisco Systems Inc. reports earnings, Wednesday, May 17, 2017. (AP Photo/Paul Sakuma, File)more +Cisco Systems Inc. said Wednesday that it is laying off 1,100 more workers, deepening job losses at the internet gear maker battling declining revenue.

    The new round of layoffs comes on top of the 5,500 jobs Cisco announced it was cutting in August.
    That amounted to about 7 percent of its workforce at the time.


    Cisco sells routers, switches, software and services business and has seen its business hurt as more of its corporate customers rely on remote data centers for their computing needs instead of online networks maintained on their own premises.


    The company based in San Jose, California, on Wednesday reported revenue of $11.94 billion for its fiscal third quarter that ended in April. That was down from $12 billion a year earlier. It said it expects its revenue to decline 4 to 6 percent in the quarter ending in July compared to the same 2016 period.


    Its stock was down $2.53, or 7.5 percent, to $31.29 in extended trading.


    Cisco reported a profit of 50 cents per share for its fiscal third quarter. Earnings, adjusted for one-time gains and costs, came to 60 cents per share and topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.


    For the current quarter, Cisco expects its per-share earnings to range from 60 cents to 62 cents.

    http://abcnews.go.com/Technology/wir...yoffs-47475711

    NO AMNESTY

    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


    Sign in and post comments here.

    Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn

  2. #2
    Senior Member JohnDoe2's Avatar
    Join Date
    Aug 2008
    Location
    PARADISE (San Diego)
    Posts
    99,040
    NO AMNESTY

    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


    Sign in and post comments here.

    Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn

Similar Threads

  1. REUTERS ANNOUNCES MAJOR LAYOFFS
    By Newmexican in forum Other Topics News and Issues
    Replies: 0
    Last Post: 01-17-2013, 02:08 AM
  2. Boeing Announces Big Layoffs in Defense Division
    By AirborneSapper7 in forum Other Topics News and Issues
    Replies: 38
    Last Post: 12-07-2012, 11:50 PM
  3. Cisco Systems and Westcon Group To Pay U.S. $48 Million
    By JohnDoe2 in forum Other Topics News and Issues
    Replies: 0
    Last Post: 09-07-2010, 06:52 PM
  4. 2 Headlines: Cisco Profit Jumps 79% vs. Cisco Misses Est.
    By AirborneSapper7 in forum Other Topics News and Issues
    Replies: 0
    Last Post: 08-12-2010, 01:27 AM
  5. State Newspaper Announces Layoffs in Columbia
    By loneprotester in forum Other Topics News and Issues
    Replies: 3
    Last Post: 03-11-2009, 08:56 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •