Cisco's (NasdaqGS: CSCO) ongoing investments in emerging market segments, including consumer video products, video conferencing and smart-grid network systems, is prompting it to increase its employee bandwidth.
Speaking at the recent Sanford C. Bernstein & Co. investor conference in New York, John Chambers, Cisco's CEO, said that the company plans to bring on 3,000 additional employees globally this quarter and next. In Q3 alone, a period that ended May 1, Cisco hired about 1,000 new employees.
Committing himself to the company for another three to five years, Chambers said his long-term 12-17 annual revenue growth goal is "within grasp." Reaching that growth goal won't be easy. In 2009, Cisco's sales declined nine percent due to the global recession. As a result it had to lay off 2,000 employees in addition to closing offices and a hiring freeze.
- Bloomberg has this article
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