Cisco Slashes 6,000 Jobs After Pushing More Amnesty, Guest-Worker Visas
A year after insisting that Congress must pass comprehensive amnesty legislation, Cisco announced Wednesday that it would lay off another 6,000 workers, about 8% of its workforce.
According to BizJournals, Cisco has previously announced that "it would lay off 4,000 workers in 2013; 1,300 in 2012; 6,500 in 2011; and 2,000 in 2009." The new layoffs will occur in 2015.
In 2013, Cisco, along with other big-business interests, wrote to Congress that "failure to act is not an option" on amnesty legislation even though the Congressional Budget Office determined that the bill in question would lower the wages of American workers. In addition, numerous scholars and studies have debunked the notion that there is a shortage of American high-tech workers, but high-tech companies like Microsoft, Cisco, and Facebook want more guest-worker visas to import more foreign workers.
BizJournals reported that Cisco's revenue in the second quarter was reportedly $12.36 billion, down from $12.42 billion a year ago.
Last month, Microsoft announced it was laying off 18,000 workers one week after its former head Bill Gates called in a New York Times op-ed for an unlimited number of certain guest-worker high-tech visas.