According to MarketWatch last week Cisco is cutting between 600 and 700 jobs at its headquarters
The company released a statement acknowledging the cuts, saying “this limited restructuring is part of our ongoing, targeted realignment of resources and was previously discussed on our fiscal second- and third-quarter 2009 earnings calls.”
True, but at the time CEO Chambers claimed that the company had no plans for “major job cuts”
“Being very transparent, the definition of a company-wide layoff to me is at least 10% of your workforce,” he said. “In very direct terms, we are not going to consider a layoff at this point in time.”
Which is honest but slimey. The company has 66,000 employees or so right now, so Chambers is all good until he ramps up to firing 6,000 or 7,000 folks. I’m sure those being fired in this round feel pretty good about that.