'Involuntary attrition' at Cisco

Carl Remick carlremick at hotmail.com
Fri Mar 9 21:07:17 PST 2001


[Earlier today, Reuters was reporting that this job cutback would be 5%. Following is from TheStreet.com]

Cisco Slashes 15% of Jobs, Hints at Earnings Shortfall By Scott Moritz Senior Writer 3/9/01 3:48 PM ET

Citing evidence of what it called an expanding worldwide economic slowdown, Cisco (CSCO:Nasdaq - news) Friday set plans to slash its workforce by 15% while hinting at a third-quarter earnings shortfall.

The networker, which was rumored earlier this week to be considering job cuts, said it would slash 3,000 to 5,000 full-time and 2,500 to 3,000 temporary and contract jobs. Cisco employs 44,000 full-time and 4,000 temp workers. The cuts will take place in coming months through what the company coyly called "voluntary attrition, involuntary attrition, and the consolidation of some positions."

[Full text: http://www.thestreet.com/tech/telecom/1338238.html]

Carl

_________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com



More information about the lbo-talk mailing list