February 28, 2009
Cisco cut 250 from its San Jose campus as it begins the layoffs it announced a few weeks ago. The cuts were referred to as a “realignment”, but they are clearly layoffs.
What’s more is that Cisco in the past down cycle made progressive amounts of cuts as its revenue declined. With GDP during Q1 guesstimated to be down as much as 8-10%, it’s likely that revenue will continue to decline and additional layoffs will be announced, not only at Cisco but my guess is at an increasing number of Silicon Valley companies.
- Layoff Announcements; Expo San Jose Store Closing
- Cisco Systems “Realigns” 2000-3000 Employees
- Symantec Announces Layoffs; 5% Cut Expected
- Layoffs Back: Verizon 13K, Sam’s Club 11K
- Electronic Arts Cuts 1100; Panasonic 15,000