In 2007, I wrote that Cisco was out to lunch and it looks like they still are. Another pathetic quarter for Cisco (CSCO) when it reported earnings yesterday. Its stock is the most aggressively sold stock on the NASDAQ this morning and the market has been open barely an hour. The company has completely lost its way.
On CNBC when CEO John Chamber was ask about the quarter he used all kinds of buzz words to confuse the reporter and the audience. Finally, the reporter got tired and told Chambers that his company was a “dinosaur”.
I have written about why Cisco Is Dead and no amount of layoffs are going to fix Cisco’s problem. Its smartest employees have left and gone to competitors or become its competitors. Today the company is so bloated and apparently nothing gets done.
Here is what former and current employees had to say:
“Cisco has no core values anymore, no core teams, or core strategy. The company is fragmented in so many ways and the results are too many old boys in the old boy network, hiring other old boys and running the entire company into the ground. In a way, it resembles some old school company from another time, once innovative and respected, but now a calcified relic.” by swoosie
“Cisco is bloated and stuck in dark ages. lots of middle managers with no clue about how to run a business.” by excisco
Have to agree with excisco… It’s a decrepit environment with little to no innovation remaining. It’s now become a tech version of GE.
They’ll remain in the market and have success, but their chances of being a true success in the consumer space is nill. by anotherexcisco
Agreed. So many business units and yet no direction. Good products but in a me too category. Much of business remains with companies that find it a pain to switch, but startups can pick something that gives better value.
The Flip is an OK product and easy to use, but why would I want to carry yet another device when even my point and shoot camera or an iPod Touch (or now iPad 2) can do HD video? Linksys was an early acquisition and its products are generally of better quality than Netgear and Belkin, but did Chambers forget than consumer electronics don’t have 70% margin. by SVinsider
Chambers should go. The company needs new blood or else it will bleed green dollars!!!!!!!!!!!!!!!!!!!!!!!! My entire faith in this company is shaken. John Chambers should be taken out to Cisco Drive, unveil his bust or monument and then walk to the sunset in montana. Please go Chambers!!!!!!!!!!!!!! by Profit Hunter
————-Channels: cisco, layoffs