November 25, 2008

Cisco Plans Year-End Office Closure to Reduce Costs

According to Bloomberg: “Cisco Systems plans to shutter its North American offices for five days for the first time in more than a decade as it seeks to shave $1 billion in costs.

The company’s U.S. and Canada offices will be closed Dec. 29 through Jan. 2, Terry Alberstein, a spokesman, said in an e-mail today. Some teams including technical support will be working.

Customers are withholding orders because of the financial crisis, forcing Cisco to suspend hiring, business travel and relocations in a bid to cut expenses. Chief Executive Officer John Chambers forecast a revenue decline for the first time in five years for the second quarter, which ends in January.”

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at

%d bloggers like this: