Cisco Not Laying People Off

by Jordan Yerman | February 5, 2009 at 08:26 am

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These days, a tech company not cutting jobs is news. Cisco, which has its own history of ups and downs, has instituted a hiring freeze, but is not laying people off. That makes me smile.

That could change, of course; anything said in the forward-looking portion of a quarterly earnings call can change as situations unfold. But on its Q2 2009 call this afternoon, Cisco laid out a detailed plan for pursuing revenue opportunities and positioning during the downturn. A hiring "pause" is on tap -- but those dreadful en masse walks to HR are not.

Cisco's strategy seems to be, "hold on and ride out the storm".

Cisco's currently sitting on $29.5 billion in cash, cash equivalents, and investments. Cisco suggests that it's the largest stash in the industry, and your reporter is hard-pressed to disprove it.

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