Feeds

Cisco shares dip after reports of holiday shutdown

Locking doors to pay the bills

Beginner's guide to SSL certificates

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.