Cisco Systems, Inc. (NASDAQ: CSCO) has laid off several hundred workers and named a new Executive Vice President of its Worldwide Operations.
The WSJ has reported that Cisco cut about 250 jobs at the headquarters level. These are supposed to be the first round of layoffs, which are expected to reach about 2,000 employees company-wide.
There is unfortunately a rather sad appointment. Robert Lloyd, 52, is replacing 59-year old Richard Justice who is battling prostate cancer. Justice has been with the company for 12 years and he will remain on as a part-time executive adviser to Chairman and CEO John Chambers.
Cisco stock is indicated up about 1.4% at $14.98 in the pre-market hours. This is still at the bottom of a trading range of $14.20 to $27.72 over the last year.
Jon C. Ogg
February 26, 2009
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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