Cisco waves excuse boilerplate as profits fall
Pop quiz: What did Cisco blame for a 28 per cent drop in profits during its second quarter. A) Somali pirates B) The number 7 C) Global recession D) Roger in accounting Congratulations readers who chose shrewdly selected C. You must be getting good at this. For the three months ending January 24, Cisco made a net profit …
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The master of weasel
From the chief exec that used to be known for his forthrightness and old fashioned southern straight talking, truly Chambers has become the master of the weasel words.
>"While there are no guarantees, we think the odds are reasonable
>that if we execute effectively...we may be able to avoid large downsizing events,"
Translation: I'm too much of a pussy to fess up, but arterial blood is going to soak the halls of Cisco offices around the world. Start prepping your CVs, boys. But don't be scared, we'll do it in two or three smaller hacks so that no-one notices your screams of pain.
What it doesn't say is
Cisco has a large outsource workforce working and they have already started cutting them.
Wait a minute...
A net profit of *only* $1.5bn? Boo hoo. And they want to fire people because of this? Greedy bastards. If I worked there I'd go on strike!
10% of 67,000 != 2000
who knows what else they've got wrong in their sums. Maybe they didn't make a profit at all, because they ran out of fingers to count on.
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