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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: rosebud who wrote (54005)	7/11/2001 10:48:14 PM
From: thesmay	Respond to of 77400

"None would comment on the record, but some said the severance package was generous. All employees are getting a minimum six months of salary and benefits, as well as job-search and resumé counselling, spokeswoman Willa Black said. In addition, Cisco is giving laid-off employees 12 months to exercise their stock options because the current price of Cisco stock is below the option price. Shares in Cisco closed yesterday on the Nasdaq at $15.73 US -- less than half what it was when the company bought PixStream on Dec. 20. The acquisition made instant millionaires out of some PixStream employees, at least on paper." Given the economic situation and the extent to which CSCO had to make their cuts, it only seems natural to let a nonintegral part of their business go. No one wants to see anybody lose their job but unfortunately in this industry it has become a way of life. I think CSCO is being more than fair with the ex-employees, it could be a lot worse. One thing of note, this decision only emphasizes the fact that Chambers never really thought business would get this bad, as he has stated.