Friday
September
04
2015
11:47 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:

Indexes higher; Amazon gains, Macy’s drops
USDA decision could boost use of popular weed killer
U.S. retail sales flat in July
 

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


 
 
 
Daily Journal Quick Poll
 
What do you think of the judge's decision to throw out Tom Brady's four-game suspension for the "Deflategate" incident?

It's good, let Tom play
Brady and the Patriots got away with cheating
It's still not over
Weird it went before a judge
Can't wait to see the artist's sketch

 

 
 
 
 
 
 
 
US employers added 173K jobs in Aug.; rate falls to 5.1 pct.
WASHINGTON — The U.S. unemployment rate fell to a seven-year low in August as employers added a mo..
With clerk jailed, gay Kentucky couple gets marriage license
MOREHEAD, Ky. — A gay couple emerged from a Kentucky county clerk's office with a marriage license..
Benghazi panel interviews more of Clinton's inner circle
WASHINGTON — The chairman of a congressional panel investigating the deadly Benghazi attacks said ..
More >>  
 
 
  
 
  
 
©2015 San Mateo Daily Journal
Redwood Shores news