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I wonder why? What is in the near future?
A certain tech co. should have all of their jobs outsourced to s. america in the next year or two.
Cisco plans to lay off 4,000 workers from its payroll beginning this quarter, the networking giant announced Wednesday. The cuts amount to 5 percent of its workforce.
...
Cisco’s five percent cut is the latest round it’s wielded over the past year. Last summer, Cisco announced it would eliminate 1,300 positions, or 2 percent of its workforce, as part of an ongoing restructuring.
And in March this year, Cisco axed 500 employees, as part of an occasional rejiggering of resources, according to an All Things D post.
For Cisco, the cuts are not a result of the company bleeding tons of red ink. In fact, when it unveiled its fourth quarter results Wednesday, Chambers noted the company posted a record quarter for revenues and its bottom line was profitable.
Cisco posted fourth quarter revenue of $12.4 billion, up 6 percent from a year ago. And its net profit reached $2.27 billion for the quarter, an increase from $1.92 billion a year earlier.
Full story:
http://news.dice.com/2013/08/14/cisco-lays-off-4000/
I wonder why? What is in the near future?
A certain tech co. should have all of their jobs outsourced to s. america in the next year or two.
Maybe he's trying to recoup some losses, tbh...
Cisco CEO John Chambers received a $4 million cash bonus in fiscal 2012, but it wasn't enough to offset a 41% decline in stock awards. His total compensation, valued at $11.7 million, is down 9% compared to 2011, when his pay package was worth $12.9 million.
...
Chambers' 2012 salary is the same amount he received a year earlier, but he's getting a big increase: Cisco's compensation committee approved a nearly threefold salary hike to $1.1 million for Chambers in the 2013 fiscal year, underway now.
http://www.networkworld.com/news/201...ay-262979.html
Could be a reasonable reaction to technology changes. I would think with the transition to cloud computing the demand for local networking gurus is dramatically decreased.
Except Cisco is a major player in cloud storage area networking aren't they?
Looks like maybe the sequester cuts austerity is kicking in.
or maybe 4000 salaries are going straight into the pockets of investors (including of course Cisco top mgmt). HP laid off 20K explicitly to prop up the stock price (satisfy investors).
Yes, but 5 years ago, what took a whole room of servers and hard drives for storage now probably fits in a single 19" rack. Less to maintain. that's just one aspect.
They're trying to get down to below 50 employees to avoid the 0bamacare hit.
50?
CLOAD storage is bull , you still need the the infrastructure to store that data, its just another word for no need for your own hdd, we provide the hdd you store ur on it....
same
Half of Small Businesses Will Cut Employee Hours to Avoid Obamacare Penalties
BY RAY HENNESSEY | July 16, 2013
Half of small businesses affected by the new national health-care law plan to either cut hours to reduce workers to part-time status or replace existing full-timers to part-time hours to get around Obamacare requirements, according to a new survey.
What's more, another 24 percent of companies answering the U.S. Chamber of Commerce's quarterly small-business outlook survey said they will reduce staff to under 50 employees to avoid paying penalties for failing to offer health insurance.
Anxiety about Obamacare is increasing, even as the administration has put off implementation of some key provisions. Forty-nine percent of small-business owners surveyed said Obamacare is a top worry for them, up from 42 percent in January. Seventy-nine percent believe Obamacare will increase the costs of health care at their companies.
http://www.entrepreneur.com/article/227467
a way around this is open more empty s companies with 50 employees and outsourcing some services to it...
Cisco is one of the world's biggest businesses.
They also compete for talent in Silicon Valley, so their salaries and benefits are way above the national average.
scrotum sucker is shilling against Obamacare on behalf of Repugs who know Obamacare will succeed, where it is tried rather than sabotaged, and will be a huge boost to Dem campaigns.
Bouton's is correct on this one. It will secede in what it set out to do. Do serious harm to the USA.
It will succeed where it's tried. That's why tea bag extremist Repugs will shut down government to try to block it, cause they know it will succeed in those states that implement it, it will be popular in those states, making the red states look even dumberer and more regressive than usual.
Unfortunately Obamacare applies to the states that didn't set up networks too. We will just use the Fed network.
Was this supposed to be a word play joke I didn't get?
thanks. I didn't know the number was so low
companies who screw their employees out of health insurance don't value their employees in the first place.
those employees can buy insurance in the health exchanges, if their red state Repugs haven't blocked or ed up the exchanges (a Repug bill in Missouri criminalizes any govt employee who helps citizens with the exchanges).
The more the red states up ACA, the stronger is the argument for a hard core universal govt health insurance.
Last edited by boutons_deux; 08-16-2013 at 02:21 PM.
Big corps like Cisco got exempted from the ACA stuff until 2015, IIRC. IMO, this isn't ACA related, just trimming to prop up short-term stock value. Fairly common occurrence these days.
how does ACA apply to companies that already offer health insurance, like Cisco. I've always heard that those employees will be unaffected.
They are unaffected. I think EN was simply saying they would not be affected by the employer mandate until 2015, but as you mentioned, they've likely been offering health insurance to the majority of their employees. They would not be compe ive in Silicon Valley if they weren't.
No, just a spelling error.
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