About those 'Job Creators' . . .

[Synthaholic]

About those 'job creators': Cisco to cut 10,000 jobs while lobbying for tax break


According to Bloomberg:

Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans. The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the people, who asked not to be identified because the plans aren’t final. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts, the people said.
​

Cisco's CEO is the ninth highest paid in America, with one-year total compensation of $37.9 million. But by corporate logic, the way to make the company more profitable is to get rid of thousands of workers' jobs without dinging the tens of millions of dollars in pay for the guy who's ultimately in charge.


The other big mainstay of corporate logic, of course, is that there's nothing some extra tax cuts won't make better, and Cisco is hewing to that as well. ThinkProgress reports that Cisco is part of a group of corporations calling themselves WinAmerica to argue for a corporate repatriation tax holiday, in which corporations would get to bring money they've stashed overseas to the U.S. at a sharply reduced tax rate.


Cisco has an effective tax rate of 19.8 percent and has avoided $7 billion in taxes since 2005.

 

[xsited1]

If Cisco has to cut jobs to stay solvent, why can't the Federal government?

 

[uscitizen]

If Cisco has to cut jobs to stay solvent, why can't the Federal government?

sure and we should outsource our military to China as well?
it would save a bunch of money.

 

[xsited1]

If Cisco has to cut jobs to stay solvent, why can't the Federal government?

sure and we should outsource our military to China as well?
it would save a bunch of money.

We already pay for China's military because the government can't keep spending under control. I guess outsourcing wouldn't be much of a stretch.

 

[uscitizen]

About those 'job creators': Cisco to cut 10,000 jobs while lobbying for tax break


According to Bloomberg:

Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans. The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the people, who asked not to be identified because the plans aren’t final. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts, the people said.
​

Cisco's CEO is the ninth highest paid in America, with one-year total compensation of $37.9 million. But by corporate logic, the way to make the company more profitable is to get rid of thousands of workers' jobs without dinging the tens of millions of dollars in pay for the guy who's ultimately in charge.


The other big mainstay of corporate logic, of course, is that there's nothing some extra tax cuts won't make better, and Cisco is hewing to that as well. ThinkProgress reports that Cisco is part of a group of corporations calling themselves WinAmerica to argue for a corporate repatriation tax holiday, in which corporations would get to bring money they've stashed overseas to the U.S. at a sharply reduced tax rate.


Cisco has an effective tax rate of 19.8 percent and has avoided $7 billion in taxes since 2005.

Let them take their risk on keep ing their money overseas or pay the full sare of tax to bring it back in.

 

[Synthaholic]

Excellent idea, uscitizen!

 

[driveby]

About those 'job creators': Cisco to cut 10,000 jobs while lobbying for tax break


According to Bloomberg:

Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans. The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the people, who asked not to be identified because the plans aren’t final. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts, the people said.
​

Cisco's CEO is the ninth highest paid in America, with one-year total compensation of $37.9 million. But by corporate logic, the way to make the company more profitable is to get rid of thousands of workers' jobs without dinging the tens of millions of dollars in pay for the guy who's ultimately in charge.


The other big mainstay of corporate logic, of course, is that there's nothing some extra tax cuts won't make better, and Cisco is hewing to that as well. ThinkProgress reports that Cisco is part of a group of corporations calling themselves WinAmerica to argue for a corporate repatriation tax holiday, in which corporations would get to bring money they've stashed overseas to the U.S. at a sharply reduced tax rate.


Cisco has an effective tax rate of 19.8 percent and has avoided $7 billion in taxes since 2005.

So raise their taxes, that'll show 'em !! ......


P.S. Thinkprogress?, seriously?......

 

[CrusaderFrank]

DO they make bank ATM machines?

 

[Synthaholic]

About those 'job creators': Cisco to cut 10,000 jobs while lobbying for tax break


According to Bloomberg:

Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans. The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the people, who asked not to be identified because the plans aren’t final. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts, the people said.
​

Cisco's CEO is the ninth highest paid in America, with one-year total compensation of $37.9 million. But by corporate logic, the way to make the company more profitable is to get rid of thousands of workers' jobs without dinging the tens of millions of dollars in pay for the guy who's ultimately in charge.


The other big mainstay of corporate logic, of course, is that there's nothing some extra tax cuts won't make better, and Cisco is hewing to that as well. ThinkProgress reports that Cisco is part of a group of corporations calling themselves WinAmerica to argue for a corporate repatriation tax holiday, in which corporations would get to bring money they've stashed overseas to the U.S. at a sharply reduced tax rate.


Cisco has an effective tax rate of 19.8 percent and has avoided $7 billion in taxes since 2005.

So raise their taxes, that'll show 'em !! ......


P.S. Thinkprogress?, seriously?......

How about just making them pay their taxes?

 

[The Rabbi]

About those 'job creators': Cisco to cut 10,000 jobs while lobbying for tax break


According to Bloomberg:

Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans. The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the people, who asked not to be identified because the plans aren’t final. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts, the people said.
​

Cisco's CEO is the ninth highest paid in America, with one-year total compensation of $37.9 million. But by corporate logic, the way to make the company more profitable is to get rid of thousands of workers' jobs without dinging the tens of millions of dollars in pay for the guy who's ultimately in charge.


The other big mainstay of corporate logic, of course, is that there's nothing some extra tax cuts won't make better, and Cisco is hewing to that as well. ThinkProgress reports that Cisco is part of a group of corporations calling themselves WinAmerica to argue for a corporate repatriation tax holiday, in which corporations would get to bring money they've stashed overseas to the U.S. at a sharply reduced tax rate.


Cisco has an effective tax rate of 19.8 percent and has avoided $7 billion in taxes since 2005.

So raise their taxes, that'll show 'em !! ......


P.S. Thinkprogress?, seriously?......

How about just making them pay their taxes?

What taxes are they not paying?

Instead of blaming corporations for not hiring let's blame the FedGov for creating policies that punish success.

 

[Wiseacre]

What's this story about Cisco got to do with job creators? Looks to me like just another bitchfest about CEO pay. Look, if the stockholders don't care why should you?

 

[Baruch Menachem]

Cisco makes cool things that people want to buy. Taxes are an expense. People lack the cash to buy Cisco's cool things.

If people had more cash to buy Cisco cool things, then Cisco wouldn't be obliged to fire its work force.

But people are not buying cool things from Cisco.


It's not just Cisco cool things. People lack the cash to buy all kinds things. Shoes, ships, even sealing wax and cabbages.

A business does not do jobs out of the kindness of their heart. Such a thing does not exist. They create jobs in the process of making things to sell at a profit.

You smash profits, you smash jobs.

 

[Synthaholic]

So raise their taxes, that'll show 'em !! ......


P.S. Thinkprogress?, seriously?......

How about just making them pay their taxes?

What taxes are they not paying?

Instead of blaming corporations for not hiring let's blame the FedGov for creating policies that punish success.

The $7 billion since 2005. Can't you read?

 

[Synthaholic]

What's this story about Cisco got to do with job creators? Looks to me like just another bitchfest about CEO pay. Look, if the stockholders don't care why should you?

Exactly! They are not job creators! They make jobs disappear, while using loopholes to avoid paying taxes.

 

[The Rabbi]

How about just making them pay their taxes?

What taxes are they not paying?

Instead of blaming corporations for not hiring let's blame the FedGov for creating policies that punish success.

The $7 billion since 2005. Can't you read?

Can't you understand something? Anything?
They aren't not paying anything. They pay exactly what they owe. If they didn't, they would be facing prosecution.
What about that is hard to understand?

 

[Wonky Pundit]

For the record, Cisco's current troubles are not so much the overall economy as in their expansion into a number of new businesses they had no reason to get into - such as flip video. That's what they're shedding now, in favor of keeping their core business (networking equipment), which is still doing very well.

The CEO pay issue, on the other hand, is a serious problem in general. That kind of pay attracts fly-by-nighters who grab what they can and leave, no matter how badly it hurts the company.