Cisco Layoffs Coming?

Bloomberg is reporting today that up to 10,000 employees will be laid off in effort to shore up lacking sales in the last several quarters.  Up to 7,000 will be direct layoffs and another 3,000 will be given early retirement packages.  Given that this week’s government jobs report showed only 18,000 new jobs being created, this represents a big hit….

Let’s hope all the analysts are wrong on this one!