Feeds

Cisco shares dip after reports of holiday shutdown

Locking doors to pay the bills

Business security measures using SSL

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. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.