Cisco 6000 layoffs.

Cisco….. One of the many technology companies who went to Washington complaining they can’t find qualified US workers (so they NEED more foreign workers) is now laying off 6000 workers. 

8% of their workforce is being given the ol kick in the azz! Thanks for everything……Now get out.

This is the fourth consecutive summer Cisco has laid off thousands of workers. It is a tradition. Every summer thousands get shown the exit. The remainder of the year the company is very busy bellyaching they can’t find qualified people. If it wasn’t so tragic it would be amusing.

http://www.mercurynews.com/business/ci_26330914/biz-break-cisco-confirms-annual-summer-layoffs-hack

Cisco has made layoffs a summer tradition, announcing 4,000 cuts last August, 1,300 layoffs in July 2012 and a reduction of 6,500 jobs in July 2011.

(Employees love companies with a strong sense of tradition)

Cisco's earnings also revealed that the company shipped $13.3 billion back to shareholders in the form of stock repurchases and dividends in the recently completed fiscal year, a record for the company, and plans to repurchase another $8.6 billion in shares.

(Take the money away from the employees and hand it over to Wall Street. It is that “income redistribution” Fox News warned everybody about)

Silicon Valley tech companies have made a habit of spending record profits on stock repurchases and dividends as employee counts stagnate.

In 2013, the 150 largest technology companies in the Bay Area increased stock repurchases 148 percent and returned a record $97.5 billion to investors while the total workforce increased 3.1 percent.

Wallstreet gets 148% increase

Workers get 3.1% increase.

Everyone good with that? You don’t have to answer that because nobody really cares what you think.