Cisco opened its books this afternoon and what they revealed wasn’t exactly pretty: declining profit and slumping sales. Not the sort of performance you hope for in a tech bellwether. But clearly Cisco has been beaten into submission by the econalypse just like everyone else.
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Looks like Sun is “aligning its business with the global economic climate” again… The company will sack 1,500 employees this week, a company spokesperson confirmed to Digital Daily. The move is part of the restructuring plan Sun announced last November and will affect “all functions, geographies and levels.”
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Facebook’s virtual gift market may turn out to be the best holiday shopping option for employees hoping to cash out some of their shares. On Thursday, the company postponed a program that would have allowed employees to sell up to 20 percent of their vested shares.
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Investors concerned about Google’s performance in the current economic slump set their Mylanta aside this afternoon after the company reported third-quarter earnings that beat expectations. Excluding one-time items, Google earned $4.92 a share in the third quarter on revenues of $4.04 billion. Analysts had expected earnings of $4.75 a share on revenue of $4.053 billion.
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