Cisco CEO Vows Faster Innovation |
| Wall Street Journal - Jul 12, 2011 |
Cisco Systems Inc. Chief Executive John Chambers said the network-equipment company will decisively streamline its operations to speed up decision-making and get new products to market faster.
"We were too complex," Mr. Chambers told a gathering at a company event here that drew more than 15,000 customers and other attendees. "You will see us leaner and more focused."
Mr. Chambers said the reorganization, which the company has been promising since mid-May, would cut the number of groups involved in developing new products. For example, multiple groups that create operating systems for Cisco will be combined into one, he said. The company also will streamline Cisco's sales organization, he said.
"The market is changing, and we are going to change faster than anyone else," Mr. Chambers said.
The company is also finalizing staff reductions, which are expected to include both early retirements and layoffs. Analysts say the cuts, designed to reduce $1 billion in operating expenses over the next fiscal year, could number 5,000 or more.
Read Full Article from Wall Street Journal
- Posted: 2011-07-12 14:41:24
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