Cisco stock plunges after news of job cuts - WSPA.com

Cisco stock plunges after news of job cuts

Posted: Updated:
Associated Press Associated Press
RTP, N.C. -

Cisco stock plunged 7 percent Thursday after the company announced Wednesday it would cut 4,000 jobs.

USA Today reported the company was cutting the jobs despite an 18 percent profit growth.

Cisco's corporate headquarters are in San Jose, California, but has a campus in Research Triangle Park in North Carolina.

There is no word on how many of the 4,000 jobs will be cut from the Triangle location. More than 2,000 people work at the office in RTP.

 

MOST POPULAR STORIES

  • Business & ConsumerMore>>

  • S&P 500 crosses 2,000 for first time

    S&P 500 crosses 2,000 for first time

    Tuesday, August 26 2014 4:25 PM EDT2014-08-26 20:25:29 GMT
    The Standard Poor's 500 index closed above 2,000 points Tuesday for the first time, but just barely. It edged up 2.10 points to 2,000.02 points.It's been 16 years since the index closed above 1,000 points for t.
    The Standard Poor's 500 index closed above 2,000 points Tuesday for the first time, but just barely. It edged up 2.10 points to 2,000.02 points.It's been 16 years since the index closed above 1,000 points for t.
  • Durham startup launches app to make shoppers, diners more informed

    Durham startup launches app to make shoppers, diners more informed

    Wednesday, August 20 2014 5:55 PM EDT2014-08-20 21:55:28 GMT
    An app developed in the American Underground is leading the way to giving shoppers and diners a more personal experience.
    An app developed in the American Underground is leading the way to giving shoppers and diners a more personal experience.
  • Raleigh company brings free HDTV into homes

    Raleigh company brings free HDTV into homes

    Wednesday, August 20 2014 5:48 PM EDT2014-08-20 21:48:24 GMT
    The Mohu Leaf works fairly simply: plug it in, hang it on a wall, receive free HD television from stations that send out a free HD signal.
    The Mohu Leaf works fairly simply: plug it in, hang it on a wall, receive free HD television from stations that send out a free HD signal.
  • Top StoriesTop StoriesMore>>

  • Woman Charged With DUI After 2 Children Die In Boating Accident

    Woman Charged With DUI After 2 Children Die In Boating Accident

    Monday, September 1 2014 5:08 PM EDT2014-09-01 21:08:30 GMT
    Dawn Thompson, 53, of EasleyDawn Thompson, 53, of Easley
    Dawn Thompson, 53, of Easley is charged with two counts of felony DUI  after a five-month old baby and a nine-year old child died after a boat capsized on Lake Hartwell Sunday in the Townville area.

    Dawn Thompson, 53, of Easley is charged with two counts of felony DUI  after a five-month old baby and a nine-year old child died after a boat capsized on Lake Hartwell Sunday in the Townville area.
  • 2 Women, 4 Kids Hurt In Lake Keowee Jet Ski Wreck

    2 Women, 4 Kids Hurt In Lake Keowee Jet Ski Wreck

    Monday, September 1 2014 1:59 PM EDT2014-09-01 17:59:29 GMT
    Authorities say two jet skis collided on Lake Keowee, injuring the two drivers and four children who were riding along.
    Authorities say two jet skis collided on Lake Keowee, injuring the two drivers and four children who were riding along.
  • Spartanburg Co. Deputies Looking For Home Detention Escapee

    Spartanburg Co. Deputies Looking For Home Detention Escapee

    Monday, September 1 2014 12:49 PM EDT2014-09-01 16:49:29 GMT
    Mugshot: Lonnell Norvell Chamblee (Spartanburg Co. Sheriff's Office)Mugshot: Lonnell Norvell Chamblee (Spartanburg Co. Sheriff's Office)
    Spartanburg County Sheriff's deputies are looking for a man who escaped from home detention. According to an arrest warrant issued by the sheriff's office, 21-year-old Lonnell Norvell Chamblee, of Spartanburg, is wanted for escape after he cut off his ankle monitoring bracelet and escaped from the home detention program.
    Spartanburg County Sheriff's deputies are looking for a man who escaped from home detention. According to an arrest warrant issued by the sheriff's office, 21-year-old Lonnell Norvell Chamblee, of Spartanburg, is wanted for escape after he cut off his ankle monitoring bracelet and escaped from the home detention program.
Powered by WorldNow

250 International Dr.
Spartanburg, S.C. 29303

Telephone: 864.576.7777
Fax: 864.587.5430
Email: webmaster@wspa.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.