Aug 14, 2013

Cisco Said It Will Fire 4,000 People Next Year And The Stock Is Tanking After Hours
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Written by : Tom George| 0 | Fashion

John Chambers frown

That’s about 5% of its work force.

The news comes as the company reported earnings for last quarter. It earned $2.23 billion at $0.42 per share. Revenue was $12.42 billion, up 6% year over year, right in line with expectations. In a conference call announcing the company’s earnings, CEO John Chambers blamed the firings on the slow economy. The stock is tanking in after-hours trading. It’s currently down about 10%.

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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.
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Content Curator

Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.

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