The organizers of 2014 International CES rounded out its lineup of keynote speakers, as President/CEO Gary Shapiro announced Tuesday at the CES Unveiled event in New York that a pair of CEOs- Cisco's John Chambers and Yahoo's Marissa Mayer will deliver "Tech Titans" keynotes.
Cisco reported a better than expected fiscal first quarter and CEO John Chambers said the company's restructuring is beginning to pay off in "limited capital spending" environment.
The networking giant reported first quarter earnings of $1.8 billion, or 33 cents a share, on revenue of $11.3 billion, up 4.7 percent from a year ago. Non-GAAP earnings were 43 cents a share.
Wall Street was expecting non-GAAP earnings of 39 cents a share on revenue of $11.03 billion.
In a statement, Chambers said the quarter was solid. "Even in times of limited capital spending, intelligent networks are being deployed
The troubled networking giant Cisco Systems holds its financial analysts meeting in San Jose, California today. And the expectation is that CEO John Chambers will reset the company’s long term growth expectations downward to a trajectory that’s more in line with the troubled marketplace the company has found itself in recently. Additionally, Chambers will likely lay out his plan to get Cisco growing again, following a restructuring that saw 6,500 jobs eliminated, and certain parts of the company, in particular the Flip video camera business, shut down.
Cisco Systems Inc., the world’s largest networking-equipment company, may cut at least 5,000 jobs to revive profit growth as rivals erode market share, analysts at Gleacher & Co. and Miller Tabak & Co. said. Cisco Chief Executive Officer John Chambers said he planned to cut more jobs and drop less-profitable businesses after closing the Flip video-camera unit and firing 550 workers in May. The company will give an update “on the cost reductions, including layoffs, on our next earnings call,” Karen Tillman, a spokeswoman, said in an e-mailed statement today. Chambers is under pressure
Cisco Systems is expected to cut thousands of jobs in what could be its largest-ever layoffs for the world’s largest makers of networking equipment, Reuters said.
Faced with slowing growth, Cisco chief executive John Chambers has set a goal of cutting $1 billion in costs. Analysts contacted by Reuters predicted that Cisco will lay off 4,000 workers in the coming months, or about 4 percent of Cisco’s worldwide work force of 73,000. Cisco also employs an undisclosed number of temps. The layoffs show that even in an industry upturn, there are still winners and losers.
Cisco Systems Inc. Chief Executive Officer John Chambers abandoned a four-year-old forecast for annual sales growth of 12 percent to 17 percent as weak demand and price pressure force him to cut jobs and exit businesses. Revenue at San Jose, California-based Cisco, the largest maker of networking equipment, will grow no more than 2 percent this quarter, the company said yesterday on a conference call. Analysts on average expected 7 percent sales growth, according to a Bloomberg survey. Chambers addressed investors on