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Cisco's workforce reduction plan to cost up to $550 million - The Economic Times

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Cisco's workforce reduction plan to cost up to $550 million


By PTI | 10 Nov, 2013, 01.27PM IST
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NEW YORK: Networking solutions major


Twitter Mania Totally Worth It? Cool facts about 132' Nation & Institutions Cisco has 'Hawk said its plans to reduce the

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global headcount by 5 per cent will cost the firm as much as $ 550 million in cash on severance, one-time termination benefits and other costs.

Cisco's workforce reduction plan to cost up to $550 million

Twitter debut makes cofounders richer by over $1 bn

The US-based firm had announced in Save precious time tracking your investments August this year that it will reduce its headcount by about 4,000 employees or 5 per cent of its global workforce. Cisco employs over 75,000 people globally, including Eight cool facts about Navy's 6 Former babus who changed Chhattisgarh goes to p India.

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Williams added over $ 1.07 bn to his 'Hawk 132' is equipped with advanced and Aruna Roy who left cushy govt job at a Naxals have sent out signals th "The company currently estimates that itage will to recognise pre-tax charges to its financial personal fortune, while Dorsey gained close reliable navigation systems and has the young join the brigade of full-time strike violently before or after th to half a bn dollars, after Twitter made a debut at NYSE yesterday. India-born investor earns big from Twitter IPO Long way to go for Twitter to attract Indian internet users

results in an amount not array expected to exceed $ 550 million RTI consisting severance capability to deploy an impressive of social activists. By making a reality, of Roy derail theand govts aggressive effo weaponry. has demonstrated that one can achieve away supporters from their fold other one-time termination benefits and other associated costs," Cisco said in its 2013 social goals AgustaWestland seeks meeting with Women outnumber men in se annual report. Defence Ministry reserved for STs How to unshackle CBI: Lessons from Indian Navy inducts HAL's Hawk With NABARD, Murshidabad Canada The company is rebalancing its resources with a workforce plan that will impact Advanced Jet Trainers spinning a new livelihood Manish Tiwari had sought reduction statutory status in 2010workforce. It expects to take action about 4,000 employees or 5 per centfor ofCBI its global under this plan beginning in the first quarter of fiscal 2014, it added. The firm follows August-July as fiscal year. Its annual report does not provide details on workforce reductions in terms of geography. The company has presence in the regions of the US, Latin America, Canada, Asia Pacific, Greater China, Japan, Europe, Middle East, Africa and Russia.

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Cisco, which commenced operations in India in 1995, has a significant presence in the country where it employs about 11,500 people. It has a Global Development Centre in Bangalore, which the firm claims is the largest outside of the US. It also has sales offices in New Delhi, Mumbai, Bangalore, Chennai, Pune, Kolkata and Hyderabad. "These charges will be primarily cash-based. The company expects that approximately $

http://economictimes.indiatimes.com/tech/hardware/ciscos-workforce-reduction-plan-to-cost-up-to-550-million/articleshow/25548863.cms

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Cisco's workforce reduction plan to cost up to $550 million - The Economic Times

10/11/13 5:25 pm

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250-300 million of these charges will be recognised during the first quarter of fiscal 2014 with the remaining amount to be recognised during the rest of fiscal 2014," Cisco said in the report. For the fourth quarter of 2013 fiscal, Cisco reported a revenue of $ 12.4 billion and net income of $ 2.3 billion (GAAP) and $ 2.8 billion (non-GAAP). Revenues for the whole of 2013 fiscal stood at about $ 48.6 billion.
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Komatineni Komatineni (India) 121 Followers 2 Hours ago Platinum: 27.4K

assuming average 100,000 yearly pay, cisco can break even within an year.

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http://economictimes.indiatimes.com/tech/hardware/ciscos-workforce-reduction-plan-to-cost-up-to-550-million/articleshow/25548863.cms

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Cisco's workforce reduction plan to cost up to $550 million - The Economic Times

10/11/13 5:25 pm

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Cisco's workforce reduction plan to cost up to $550 million - The Economic Times
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