Job cutting in CISCO Systems Inc. (CSCO) is nothing like a big deal because they have one of the largest employee base in Industry and for managing their other part of the business in this competitive market they makes moves like this as same as they have done in 2001 to remove about 8000 job titles.
This time it is also a very huge cutting announcement what really affects employees and their family currently working with CSCO but may be jobless after reports they will produce in August.
No doubt this news is live only because in this financial year CISCO reported 22 percent fall in their shares and now planning to reduce the workforce by cutting around 5000 employees to save $1 billion annually as salary and that amount is also enough to get 8% profit in business to fill the gaps they reported this year.
According to CISCO CEO John Chambers he is getting a lot of price cutting news and simpler product design from their business rivals to grab the market CSCO have and well known to deliver the world best networking equipments and that’s the main reson behind it’s employees should think about alternate to make a living.
This is a bad news. Maybe as early as now, people must find an alternative to make a living.
it is sad. many families loose their jobs and it is crisis for society. it is all because of this unstable economy.
We have to set new thinking right now. Setup a small biz or even better start to invest in Internet Marketing…
Too bad. But seems like this becomes a part of our life. Well yes we have to admit that life today is really hard to live.
It is unfortunate but a part of life today. Seems like more and more companies are cutting jobs each day. I just stay positive and hope we soon start to see an uppswing in our economy.
thank you