Cisco, Senior Vice President, John Chambers discussed on TechStuff
At the end of the following year. It was down to sixty six thousand six hundred thirty nine. So assuming some folks were brought on throughout two thousand twelve either through or through hires that would mean around five thousand people. People were let go. It wouldn't be the last time. Cisco would have to lay off a lot of people in August two thousand sixteen the company announced it would eliminate five thousand five hundred jobs and the following year at announced another eleven hundred positions would be on the chopping block. Now that was probably because Cisco has pivoted in recent years. The network infrastructure market has slowed down considerably because eventually you get enough superhighway laid down, right? Internet service providers have built up their infrastructures, they might continue to. Implement new material into those infrastructures, but there's no longer this land grab. There's no longer this very fast expansion of internet infrastructure. It's not necessarily a lot of of a organizations already have the equipment they need. So for the last couple of years, Cisco has had to look at a different source for revenue something some other area of growth. They could still do business with network infrastructure materials, but it's not going to have the year over year growth that investors want to see. So the company has switched to concentrate more on software and cloud computing services, as well as the internet of things. In fact, there's a pretty good chance that the internet of things got its name from Cisco, which was the organization that really recognized win individual network connected components were outnumbering the number of people on the planet saying, well, we now have more. Devices connected to the internet than there are people in the world that happened by the way around two thousand eight, two thousand nine one person who left his job was John Chambers, but that was his choice. He didn't get fired. He actually retired as CEO in two thousand fifteen. As I mentioned earlier, his replacement was Chuck Robbins. The current CEO of Cisco. He had worked for Cisco for nearly twenty years. He had previously been the senior vice president of worldwide operations. Now, if you listen to my last episode, you heard me say that a one thousand dollar investment in Cisco when it first went public, wouldn't it a ju fifty? Five point five shares which means there around eighteen dollars per share, which made me wonder, how much would they be worth today? So since that time the company's shares have split multiple times. So you have to take that into count fifty, five point five, five shares from nine hundred ninety would be more shares today because they kept splitting. So how. How many shares would you have today? Probably somewhere around sixteen thousand. That's how many times it's splits. Now keep in mind. A split typically doubles the number of shares you have sometimes it could be more than that depending on the nature of the split at the time I am researching this episode. Cisco shares are priced at about forty two dollars eighty six cents per share. So if you do some multiplication, you take your sixteen thousand..