Cisco CEO: Decision to lay off 4,000 ‘had to be made’ (BizJournals)
Cisco Systems, Inc. (NASDAQ:CSCO) CEO John Chambers said he’s not proud of his recent decision to lay off 4,000 workers, but that it was a decision that had to me made. Chambers made the remark to the 2013 North Carolina CEO forum at which he shared his reasoning behind the job cuts. Cisco Systems, Inc. (NASDAQ:CSCO) has a large North Texas campus in Richardson. How the cut will affect the Richardson facility have not been released. Chambers told the forum that the layoffs would allow the company to transition to an “inconsistent market,” the Triangle Business Journal in North Carolina reported.
What will Hewlett-Packard Company (NYSE:HPQ) learn from its quarter earnings report? (Avauncer)
Shares of Hewlett-Packard Company (NYSE:HPQ) were down 12.45% to close at $22.22. Despite this, shares remained at the higher end of its 52-week price range of $11.35 to $27.78. The company has 1.93 billion shares outstanding, thereby having a market capitalization of $42.85 billion. The fall in share prices were after the company posted a depressing quarter earnings report. The company has however managed to reverse the huge losses that it had reported for the same quarter in the previous year, posting a profit in its third quarter of 2013. The company ahs reported earnings of $1.39 billion, or 71 cents per share, as compared to a loss of a huge $8.86 billion or $4.46 per share for the same quarter for the previous year.
IBM Rolls Out Credit Risk Suite for CFOs; Wayne Wilczynski Comments (ExecutiveBiz)
International Business Machines Corp. (NYSE:IBM) has unveiled an enterprise risk management platform that uses big data and analytics technology, aiming to give users an instrumented view of risk and accounting functions across an organization. The platform and dashboard targets C-suite executives in the financial services and credit life cycle management business, IBM said Monday. Wayne Wilczynski, global risk and regulatory compliance leader at IBM, said the IBM Signature Solution works to help chief financial officers fulfill their roles as decision makers and managers of systems, infrastructure, people and accounts.
GERMANY: Conti close to autonomous car alliances with Google and IBM (Just-Auto)
The Frankfurter Allgemeine Zeitung newspaper has reported that Continental is close to agreeing alliances with Google Inc (NASDAQ:GOOG) and International Business Machines Corp. (NYSE:IBM) to develop autonomous driving systems for cars. The newspaper said that Continental aims to unveil the two pacts at the Frankfurt auto show in September. Continental is already working with Cisco Systems, Inc. (NASDAQ:CSCO) on systems for autonomous vehicles and on data transfer between cars.
Cisco Sees Brazilian Expansion Opportunity in Currency Plunge (BusinessWeek)
Cisco Systems, Inc. (NASDAQ:CSCO), the biggest maker of networking equipment, said it is expanding in Brazil at a time when currency volatility and a slowdown in Latin America’s largest economy discourage some of its competitors. Based in San Jose, California, Cisco opened an innovation center in Rio de Janeiro today to boost sales and services to government and corporate clients, including energy and mining companies, Robert Lloyd, head of development and sales, said in an interview.