Its will be carnage, Bloodbath. God save Cisco. Cisco is reporting worst ever results in its 33 yrs of existence. 20K ppl to be laid off.
23 replies (most recent on top)
Agreed. Always ongoing so deal with it. Nothing to see here. Biz as usual to hack people down. Milk the cow baby.
LR is ongoing. Its depends on organization, geography and skin color. Brown noses are spared so they may not feel the heat. Cisco is always on lay off mode so they don't have to announce any LR's Specifically for media.
Is LR coming alive by march second week ? I heard it's gonna start from march 2 week, can anybody share/confirm something similar from reliable source
Did you read the article? The quote is correct. It might be misleading information, but the article clearly indicates that the 5,500 would go starting in 2017. It does not mention fiscal, although that's what it should say.
I did read it. You didn't read my reply:
...from the original articles linked off the "starting in 2017" quote...
Linking in web pages has been around for more than a quarter century so I assume it to be common knowledge today. Both the blocks "starting in" and "2017" are hyperlinks to the following page:
http://www.cnbc.com/2016/08/18/cisco-ceo-robbins-the-insinuation-that-we-leaked-the-layoffs-news-is-insulting.html
The second paragraph from that page reads as follows (emphasis mine):
The enterprise technology company announced on Wednesday it would cut 5,500 jobs, or 7 percent of its global workforce, starting in fiscal year 2017, as it restructures to focus on key priority areas such as security, internet of things, collaboration and cloud services.
Clearly the original text mentions "fiscal year." They changed "enterprise technology" to "global networking" and "on Wednesday" to "last August" when cutting and pasting the rest of the paragraph then tried to hyperlink the time frame text. Perhaps if they knew how to make a single hyperlink for the longer string they wouldn't have lost the words "fiscal year" between those two hyperlinks.
@2xat - You mad, Bro? Look again. Looks like @1ade cut-n-pasted 90% of the story and called out the source. Here it is, in its entirety:
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Cisco Revenue Fell for the Fifth Straight Quarter
Reuters
Feb 15, 2017
Cisco Systems's quarterly revenue fell for the fifth straight quarter, hurt by sluggish demand in its legacy network equipment business.
The company's net income fell to $2.35 billion, or 47 cents per share, in the second quarter ended Jan.28 from $3.15 billion, or 62 cents per share, a year earlier.
The world's largest networking gear maker said revenue fell 2.9% to $11.58 billion.To offset sluggish demand for its traditional lineup of switches and routers, Cisco has been focusing on areas such as security, the Internet of things, and cloud computing.
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Seems to make you the Donkey....Donkey.
Sorry, 1yab, I quoted the wrong post - the one I wanted to correct has now disappeared.
@LQJ2N3b-1yab Did you read the article? The quote is correct. It might be misleading information, but the article clearly indicates that the 5,500 would go starting in 2017. It does not mention fiscal, although that's what it should say.
I love your editing. Only putting in the "negative" news, yet leading everything else out from that article. You would work well at Fox News doing political "writing".
If your an armchair jounalist, pleas post the whole thing and attribute it. Not your half donkey attempt
The stock is up 1.77% at 5:29pm having beat estimates and EPS.
Oh, and the idiot cut and paste media forgot the text from the original articles linked off the "starting in 2017" quote which was "starting in fiscal year 2017," not calendar year 2017.
https://www.google.fr/amp/www.cnbc.com/amp/2017/02/15/cisco-reports-second-fiscal-quarter-q2-2017-earnings-results.html
"The global networking company announced last August it would cut 5,500 jobs, or 7 percent of its global workforce, starting in 2017, as it restructures to focus on key priority areas such as security, internet of things, collaboration and cloud services."
http://fortune.com/2017/02/15/cisco-revenue-fell-for-the-fifth-straight-quarter/
Cisco Systems's quarterly revenue fell for the fifth straight quarter, hurt by sluggish demand in its legacy network equipment business.
The company's net income fell to $2.35 billion, or 47 cents per share, in the second quarter ended Jan.28 from $3.15 billion, or 62 cents per share, a year earlier.
The world's largest networking gear maker said revenue fell 2.9% to $11.58 billion.
Earnings are out and revenue is again down....
Stock always goes up when there are LRs
Any your highly reliable source is.....???
b---s---
Results not announced yet!
Stocks are above 32$ highest since several years
Complete nonsense.
10% cuts across each BU
idiot
C---womble
It is all true. don't worry about it though the asteroid Should hit first so it does not matter.....the sky is falling.
Helmet.
Troll....
I highly doubt that