Feeds

Cisco shares dip after reports of holiday shutdown

Locking doors to pay the bills

Build a business case: developing custom apps

Cisco Systems plans to shut down its US and Canadian operations for the last week of December as part of a larger plan to cut fiscal 2009 expenses.

A Cisco spokeswoman confirmed the year-end office shuttering with El Reg, saying the networking omnicorp will close its doors December 29 through January 2. Certain exceptions will be made for certain business-critical teams like technical assistance and product ordering services for channel partners and customers.

The shut-down is part of Cisco's plan to reduce its fiscal 2009 expenses by over $1bn, "given the challenging macroeconomic environment," according to a company statement.

Other steps in Cisco's cost-saving scheme include reductions in travel and "discretionary-related expenses," like outside services, trade shows, prototypes, marketing, and equipment.

Shutting down operations at the end of the year isn't entirely uncommon for tech firms over the past few years, but it's the first time in Cisco's history that its swung such a plan into action.

Certainly a sign of the times.

Cisco's stocks fell nearly 6 per cent in the final hour of trading after news of the shut-down began to circulate. And some are blaming Cisco's four-day US and Canadian vacation on the overall decline of the tech-happy Nasdaq exchange. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.