Tuesday
August
04
2015
12:29 am
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 
Cisco to lay off up to 6,000 workers
August 14, 2014, 05:00 AM The Associated Press

NEW YORK — Cisco said Wednesday that it will lay off up to 6,000 workers, or 8 percent of its workforce, as part of a restructuring.

The company, which makes routers, switches and software, said the layoffs will affect workers in operations around the world. The announcement was made during a conference call discussing its fiscal fourth-quarter earnings.

The San Jose, California-based company on Wednesday reported a 1 percent decline in profit, to $2.25 billion, as revenue dipped to $12.36 billion from $12.42 billion. Its adjusted earnings for the three months ended July 26, its fiscal fourth quarter, came to 55 cents per share, which was two cents more than analysts expected, according to Zacks Investment Research.

During the conference call, Chief Financial Officer Frank Calderoni said the company estimates pretax charges of up to $700 million, with about $250 to $350 million recorded in the current quarter, for the restructuring.

Shares fell 25 cents, or 1 percent, to $24.95 in after-hours trading. The stock has risen 12 percent this year.

 

 

Tags: percent, company, cents, billion, quarter,


Other stories from today:

Amazon debuts new mobile payment app and card reader
Apple bans use of two chemicals in iPhone assembly
Four keys to appealing a rejected insurance claim
 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
If the state of California had extra water, who or what should get it first?

Farmers
Natural habitat
Urban areas
Reservoirs
Don't know

 

 
 
 
 
 
 
 
Obama heralds impact of power plant greenhouse gas limits
WASHINGTON — Calling it a moral obligation, President Barack Obama unveiled the final version of h..
Weather helps crews battling massive California wildfire
LOWER LAKE, Calif. — Cooler, wetter weather helped crews make inroads Monday against a massive Nor..
US auto sales strong in July on SUV, luxury demand
DETROIT — Summer deals and big demand for SUVs and luxury vehicles kept U.S. auto sales strong in ..
Former trader given 14 years prison for market manipulation
LONDON — A British judge sentenced a former Citibank and UBS trader to 14 years in prison Monday a..
Sen. Schumer, comedian Amy Schumer call for more gun control
NEW YORK — Stand-up comedian and actress Amy Schumer is teaming up with New York Sen. Charles Schu..
More >>  
 
 
  
 
  
 
©2015 San Mateo Daily Journal
San Mateo County help wanted