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In unrelated news, 10k new applications submitted to graduate schools, hence another price increase in tuition! Woo-hoo, GDP increase!
Or applications to McDonalds.
Grad schools will have more slots to fill.
Cisco is full of fat and needs some cuts. I work with them a lot and I guarantee that in most interactions 30% of the people there these days are useless idiots. After they get past this cut it will end up being good for them, provided they actually make the right cuts...
LOL Right cuts.... makes me think about these economists that can't shoot straight.
As a rule of thumb, in any large organization, 30% of the people are idiots...
You can make that 70% without a sweat
the problem is that the 30% cut are the good people and the shite keep teir jobs.....
Good point! Whenever vast layoffs happen, the layed off are told to go to school and improve their skills! So Grad Schools will surely pick a few thousand former CISCO workers looking to upgrade their skills for jobs that probably won't exist.
Or they can downgrade their skills from "network engineer" to "Chinese router assembly line worker" and take their place on the line for pennies an hour.
Give this man a cookie for he knows of what he speaks.
This is what I call change you can believe in bitches. I love asking people in traffic with Obama stickers how that change is working out for them. Most look at me with a quizzical look on their face like they have no idea wtf I am talking about. Bahh bahhhh....
I usually just pop them the sailor's farewell when I blow by...
The economics of grad school is more subtle than that. Very few post masters candidates write checks and I can assure you that Universities are not going to scrape together more tuition and stipend packages. Expansion of graduate programs is not necessarily profitable (except MBA, LAW, and M-Eng.) The physical sciences surely will not expand.
10K laid off to be replaced by bobble head H1B visa holders.
yes so they can still have 8 of them on a conference call and the other 2 local engineers doing all the planning and work... but hey, they don't mind writing up 5 forms of status updates and chart results of incomplete bullcaca
...with all profits therefrom to support executive bonuses
Hey! Hey now! Been to India FT? Hmmmmm?
That outsourcing thing is a curse. I know it first hand. LAbour cost arbitrage across national boundaries. That's workign well in the EU too eh?
But India? I'd say it's been just plain BAD for us.
Take those numb/dumb/crumb jobs back.
But your crack-loving bankers love the arb to much as well as the middle-class being made here now, soon to be sheared too.
Big picture FoodT, big picture. Don't be a hater.
paging HarryWanger is more like it! Where is that idiot, i have seen him around the site for ages? Wasnt he recomending everyone buy CSCO "for your kids" this time last year after their profit downgrade? He should be charged with child abuse.
+1 Child abuse. That's some funny stuf right there.
Hamy has joined the ranks of rats leaving Obummas sinking ship... he was a paid shill of Obummas internet campaign but even he saw the light and couldn't push water uphill any longer
..so another winner (10,000 job losses) for Jobs Czar, Jeff Immelt. his expertise for the post presumably comes from sacking 34,000 of his own staff at GE ...wonder if he's considering his position too or will continue looking another usless Obumma jack-ass?
So Chambers should be appointed to the blue ribbon panel set up by Immelt on jobs. He is now more than qualified. The real crime is that Chambers hasn't lost his job - stock has done nothing but he has managed to rape the company with his options pay package.
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Michael -- you're talking to a twenty-line Perl script.
Maybe they can work for McDonald's? I hear they're hiring...
that's what their website says, but I never got a call back..
I have noticed a literal shit ton of white people working at my morning coffee McDonald's in the past year. For the 8 years prior to that the morning crew was almost entirely Hispanic but lately it's about half and half. Times must really be tough for some folks.
That's 10,000 people that won't be laid off again.
No need to spin. Just re-use the old script: Bush's fault!!
We can use Nancy Pelosi's crib notes.
Seeing as unemployment benefits are the best way to stimulate the economy, we have 10,000 more reasons to be optimistic about this recovery.
"Unemployment benefits are creating jobs faster than practically any other program, House Speaker Nancy Pelosi claimed Thursday."
And they can't figure out why the economy is suffering like it had chronic obstructive pulmonary disease.
Damm, I like it...Next time anyone asks me where I work I am going to tell them I work for Nancy Pelosi...!
That's another 10,000 on food stamps; and watching day time TV. More bread and circus for the sheeple.
Spin v2.0: It will be weather related in next month's NFP number
Who else remembers Chambers' interview on 60 Minutes wanting a 'tax holiday' to repatriate all that money so Cisco could create jobs?
If you don't remember it, here it is: http://www.cbsnews.com/video/watch/?id=7360936n
Did JC-superstar just play chicken with the government? Looks like only losers in that game are the 10,000 employees in San Jose.
How would a tax holiday have saved those jobs? They were laid off due to competition from Juniper and HP
Does this make my CCNA less valuable?
Cisco is located in the Republik Of Kalifornia? That is a HUGE mistake.
And now the tech jobs start to move overseas. But keep blaming taxes instead of the ready availability of global cheap/slave labor due to "free trade" policies that were supposed to help the U.S. middle class.
hey, the easy way to take over a country.. just give them free food and rent and netflix and they'll never know that the 'outside' doesn't even use English anymore...eventually just chop them all up and make a new section in the Chinese buffet called 'american',,, right next to the sweet & sour alley cat
Your comment somehow reminds me of that Jim Carey movie, The Truman Show.
So are Juniper and HP - their main competitors. Juniper is just a few miles away from Cisco.
Exactly! If they would simply have annouced that they were moving to Wyoming, half the people would have quit and they would have saved a ton on severance pay!
Is this the reason why ES plunged?
No, that was me. I'll give you a heads up next time.
Work for W&R?
That's 10,000 people given the opportunity to re-optimize their job skills...elsewhere.
Hell ya. Those 50 year old Electrical Engineers will make great contributions as laborers rebuilding the nations infrastructure for government contractors using stimulus funds printed from nothing.
Should be plenty of new positions for network experts in Obama's new Cyber Secretariat.
double post. sorry
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