You are on page 1of 4

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

10/11/13 5:25 pm

Indiatimes | The Times of India | The Economic Times | More

| Log In | Join |

Like

1.3m

Follow

Hardware
New

Search for News, Stock Quotes & NAV's


In association with 4

Home

News

Markets

IPO

Personal Finance
ITeS
NIFTY

Mutual Funds

Tech

Jobs

Opinion

Features

Blogs

Slideshows

ET NOW ET Speed
16

Hardware

Software

Internet

Market Watch
04:00 PM | 08 Nov

SENSEX

Gold (MCX) (Rs/10g.)

USD/INR

20,666.15

-156.62

6,140.75

-46.50

29,710.0

-210.0

62.48

0.06

Login to Track your Investment

VIEW MARKET

DASHBOARD

0
Share

You are here: ET Home Tech Hardware

Hi there, Login with your Facebook ID to see what your friends are reading on Times of India and Economic Times.

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


By PTI | 10 Nov, 2013, 01.27PM IST
1 comments | Post a Comment

3
Share Share More

READ MORE ON united states | Russia | Reorganization | Latin America | Kolkata | Global Development Centre in Bangalore | East Africa

1 Post Your Comment

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

Chhattisgarh Polls: Shadow o

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.

ET SPECIAL:

advanced jet trainer 'Hawk 132'

the way govt is run

under the Naxal gun

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.

Most Read

Most Shared

Most Commented

What makes Israel with just eight million peo... Young executives prefer small cities to big c... Infosys should offer to fix Healthcare.gov fo... Harley Davidson may become affordable soon as... Not optimistic about India, hasn't been manag...
More

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

Page 1 of 4

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

10/11/13 5:25 pm

News in Pics

2/20

Super Typhoon Haiyan leaves Philippines devastated

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.
Recommend 4 people recommend this. Be the rst of your friends.

More from The Economic Times


Expressway ride may be 1.25 times costlier 31 Oct 2013 Rishad Naoroji: Meet the billionaire who prefers birdwatching to talking! 10 Nov
2013

More from the web


Manufacturing lessons from Germany
TradeGood

Most Watched Videos

Does Your Future CEO Come From Marketing? Outbrain Visual History Of The S&P 500 ETF
Database

Six former bureaucrats who influenced the way government runs 10 Nov 2013 Infosys board member V Balakrishnan sells 1 lakh shares for Rs 33 crore 09 Nov
2013

Ten iPhone Apps Worth Paying For


Dummies.com

Recommended by

HCL Tech not for sale: Shiv Nadar

HCL Tech not for sale: Shiv Nadar

I will always be a citizen of India: Rag...

BHEL may bag UMPP order from Odisha & TN

READ MORE ON united states | Russia | Reorganization | Latin America | Kolkata | Global Development Centre in Bangalore | East Africa

MORE FROM VIDEOS

NEXT STORY

Slide Shows
Ten upcoming car launches you would love to know about
Are you planning to buy a car? Consider these ten upcoming launches and facelifts before takin...

Micromax to start assembling phones in India next year

Follow Economic Times Hardware Section, For The Latest News!


Like 115

Cyclone Phailin batters east coast: Latest images


Cyclone 'Phailin' is said to be the strongest cyclonic storm to hit Odisha in 14 years.

Have something to say? Post your comment


Comments are moderated and will be allowed if they are about the topic and not abusive.

10 successful start-ups by IIT, IIM & BITS alumni


From IITs, BITS Pilani to IIMs...startups by alumni of renowned institutes have taken India b...
More Slideshows

Your comment

Characters remaining (1500)

Readers' opinions (1)


NEWEST OLDEST MOST DISCUSSED

Komatineni Komatineni (India) 121 Followers 2 Hours ago Platinum: 27.4K

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

Agree (0) Disagree (0) Recommend (0) Offensive

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

Page 2 of 4

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

10/11/13 5:25 pm

INFOCUS ON ET TODAY
TOP STORIES

Battleground Bastar: Chhattisgarh goes to polls on Monday under the Naxal gun

Chennai Metro Rail test run flagged off

Manmohan Singh ranked world's most powerful Sikh


Prime Minister Manmohan Singh has been listed as the world's most powerful, influential and contemporary Sikh.

Revealed! Harley10 out of the world Davidson's entry-level images of space bikes for GenNext released by NASA

PERSONAL TECHNOLOGY

How to fix the 7 most common problems with iOS

Google's Android Kit Kat OS: Review: LG tablet has phone Google Nexus 10 features alerts, multitasking features in th

EMERGING ENTERPRISE

What makes Israel an innovation hub

Taxi rental startups plan to share traffic data with govt

Startups collaborate with peers to find customers and earn revenue

Why Indian st Gecko sees p

Get a Quote
Type Company Name
Get Quote

Browse Companies
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z | 1 2 3 4 5 6 7 8 9

Home | News | Markets | Personal Finance | Mutual Funds | Infotech | Jobs | Opinion | Features | Videos | My Portfolio | Budget 2013

Live Market

News

Portfolio

Mobile

Live TV

Newsletter

Commodities

Speed

QnA

Blogs

Alerts

Other Times Group news sites


Times of India | !"#$%&" '(!)* !"#$#%&" '(!)* | Mumbai Mirror Times Now | Indiatimes #+,(-. '(!)* | &/(-(01 '(!)* !"# $%&'$ | Lifehacker Gizmodo | Eisamay

Living and entertainment


Timescity | iDiva | Bollywood Zoom | Healthmeup | Luxpresso Technology | Guylife | Online Songs

Hot on the Web


Breast Feeding | Online Shopping Movie Review Videos | Miss India Used Cars in Chandigarh | Bike Price India

Services
Book print ads | Online shopping | Free SMS | Website design | CRM | Tenders Matrimonial | Ringtones | Astrology | Jobs | Property | Buy car | Bikes in India Used Cars | Online Deals | Restaurants in Delhi | Movie Show Timings in Mumbai Remit to India | Buy Mobiles | Listen Songs

Networking

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

Page 3 of 4

Cisco's workforce reduction plan to cost up to $550 million - The Economic Times
itimes | Dating & Chat | Email MensXP.com About us / Advertise with us / Terms of Use and Grievance Redressal Policy / Privacy Policy / Feedback / Sitemap / Code of Ethics

10/11/13 5:25 pm

Copyright 2013 Times Internet Limited. All rights reserved.

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

Page 4 of 4