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Cisco to slash 4,000 jobs in bid to move faster
2013-08-15 14:52:07| InfoWorld: Top News
Cisco Systems announced Wednesday it will eliminate about 4,000 jobs, saying it needs to pare down middle management to speed up decision-making and execution. The company didn't say when or in what regions the cuts would take place, but it expects to incur related costs of about $550 million. About $250 million to $300 million of those costs will be taken in the first quarter of the company's 2014 fiscal year, which began July 28.
Array BioPharma will cut 20 percent of its jobs Drug developer Array...
2013-08-15 13:56:36| Biotech - Topix.net
BioPharma Inc. said Wednesday it will eliminate around 50 jobs, or 20 percent of its staff positions, after Amgen Inc. ended a partnership with said it was informed of Amgen's decision this week.
Romanian and Bulgarian jobs up 26%
2013-08-15 13:08:48| BBC News | Business | UK Edition
The number of Romanians and Bulgarians working in the UK rose by a quarter in three months, official figures say.
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Cisco to cut 4,000 jobs as sales growth slows
2013-08-15 08:30:00| Telecompaper Headlines
(Telecompaper) Cisco's fourth-quarter revenues increased 6.2 percent year-over-year to USD 12.4 billion. Switching revenue rose 5 percent to USD 3.80 billion, and IP routing was flat at USD 2.09 billion. Cisco said its book-to-bill ratio for the quarter was "comfortable above 1", with orders up 4 percent from a year earlier. This includes 5 percent growth in the Americas and 6 percent higher orders in EMEA, while in Asia, orders fell 3 percent. Cisco CEO John Chambers said in a conference call that the market was not improving fast enough and the company would have to reduce costs. "What we see is slow steady improvement, but not at the pace we want," he said. As a result, the group plans to cut 4,000 jobs or around 5 percent of its workforce, the Wall Street Journal reported from the call. This will result in pretax charges of up to USD 550 million. For the current quarter, Cisco forecast revenue growth to slow to 3-5 percent. Net profit for the three months to 27 July was USD 2.3 billion or USD 0.42 per share, up 18.4 percent from USD 1.9 billion or USD 0.36 per share a year earlier. Cash flow from operations increased to USD 4.0 billion from USD 3.1 billion, and the company finished the period with USD 50.6 billion in cash.
Is Apple Doomed Without Steve Jobs, as Larry Ellison Predicts?
2013-08-15 02:34:20| PC Magazine Notebooks Product Guide
Oracle's CEO predicts Apple's demise without Steve Jobs, but what does this billionaire know?
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