By Alex Scroxton4 December 2008
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 datacentre virtualisation.
Cisco’s Q2 numbers will be released on 4 February.
