Cisco cuts 4,000 jobs despite 18% profit growth

veritas_libertas

With mobile technology becoming ubiquitous in recent years, the market leader in networking equipment saw its sales soar in double-digit percentages for much of the last decade. But the market for its products -- switches, routers, WiFi access points, modems and more -- has mostly matured and growth has slowed in recent months.


Sales of its vast array of products are closely monitored by technology analysts as the demand condition for "back-end" equipment can provide clues to the industry's broader financial outlook.


Demand from Asia was particularly weak, with product orders down 3%. Orders from customers in the Americas region grew 5%. Its product orders overall rose 4%.

Cisco cuts 4,000 jobs despite 18% profit growth

vanquish23

My co-worker just left my company to work with Cisco full time in the Service Provider area. Wonder if he made it.