Cisco shuts down, citing crisis
Wednesday, November 26, 2008
IT networking company Cisco will reportedly be shutting its offices for four days at the end of the year in a bid to cut costs.
The company is aiming to save around $1 billion in light of the global economic downturn, according to Zdnet.co.uk.
In a statement the company announced that its current cost control focus is appropriate given difficult macroeconomic conditions.
Cisco added that it will "still [provide] our partners and customers with critical services over the holiday period", which could include network security provisions.
The publication stated that during the last economic downturn many technology companies took similar action, by shutting over the festive period, as they tried to make cost savings.
Earlier in the month, Cisco released findings on data leakage, which found that internal company threats such as employee negligence pose a bigger headache to IT managers than issues emanating from outside the organization.
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