Cisco Looking To Slash One Billion In Spending

November 26, 2008

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In yet another sign of the times, Cisco Systems is looking to slash one BILLION dollars

from its spending budget in the immeadiate term. To do this, they will shut down for one week

during the holidays. This is an unprecidented action from the networking equipment manufacturer.

Cisco is a powerhouse and a key peg for the industry. In past resessions, Cisco has always been able to position itself to gain marketshare upon recovery. The sudden and dramatic spending cut indicates that Cisco management is prepared to take the necessary steps to chart its course through the current global economic meltdown which has battered its sales and its share price.

Written by iTodd · Filed Under Business