Cisco to lay off nearly 20% of global workforce

[Bernard Murphy]

Following Intel recent layoff of 11k staff. Sign of rough times to come, or just a sign that big tech is maturing?

Cisco Systems to lay off about 14,000 employees: CRN
| Reuters

 

[Don Dingee]

Sign of things shifting from hardware-centric skill sets to software-centric skill sets. I always encourage engineers and marketers I work with to have both.

 

[Daniel Payne]

Boom and bust cycles are pretty typical of high-tech companies, it's really just part of the open market system that we take for granted each day. That, coupled with increased competition from around the globe, and a general slow-down in the world economy.

 

[Bernard Murphy]

Boom and bust cycles are pretty typical of high-tech companies, it's really just part of the open market system that we take for granted each day. That, coupled with increased competition from around the globe, and a general slow-down in the world economy.

But a lot of tech is doing very well, at least according to the stock market?

 

[Daniel Payne]

But a lot of tech is doing very well, at least according to the stock market?

True, which is why I own Apple stock in my retirement plan.

Cisco was perhaps too slow in transitioning from a hardware-centric company to a more software-centric company where cloud services are in growth mode.