Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact

Symbol Name
Click for Symbol Help

Cisco CEO Vows Faster Innovation

Wall Street Journal - Jul 12, 2011

Cisco Systems Inc. Chief Executive John Chambers said the network-equipment company will decisively streamline its operations to speed up decision-making and get new products to market faster.

"We were too complex," Mr. Chambers told a gathering at a company event here that drew more than 15,000 customers and other attendees. "You will see us leaner and more focused."

Mr. Chambers said the reorganization, which the company has been promising since mid-May, would cut the number of groups involved in developing new products. For example, multiple groups that create operating systems for Cisco will be combined into one, he said. The company also will streamline Cisco's sales organization, he said.

"The market is changing, and we are going to change faster than anyone else," Mr. Chambers said.

The company is also finalizing staff reductions, which are expected to include both early retirements and layoffs. Analysts say the cuts, designed to reduce $1 billion in operating expenses over the next fiscal year, could number 5,000 or more.

Read Full Article from Wall Street Journal

- Posted: 2011-07-12 14:41:24

 More Stock Investor Place Top Stories  
Anglo platinum arm sheds 14,000 jobs, risking unrest
Apple falls below $500
US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales
Recovery in U.S. Saving 8 Million Underwater Homeowners
Facebook shares rise in buildup to mystery event, earnings

 Stock Investor Place Top Stories Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008

Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise