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No job cuts at Cisco, vows Chambers

Alex Scroxton

Speaking at a Credit Suisse Technology conference in the States, Cisco CEO John Chambers has said that in spite of an ongoing hiring freeze there will be no job cuts at Cisco for the foreseeable future.

Like many other industry giants Cisco is in the throes of a massive cost-cutting drive and is understood to be exploring several options to eke out some savings, including closing some of its North American operations for a week.

Chambers also stood by his previous revenue forecasts and is targeting revenue growth of 12% to 17% per annum in the long run, despite of growing fears that the US economy will be very badly hit by the recession.

As reported by MicroScope last month, Cisco has realigned around $500m worth of resources to help it better focus on areas it believes show potential for growth, including 'Cisco 3.0' next-gen customer management, social network tools and data centre virtualisation.

Cisco's Q2 numbers will be released on 4 February.

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