Read Cisco CEO’s Mea Culpa: "No Excuses"

Cisco CEO John Chambers is floating an “our bad” admission about Cisco’s recent stumbles, which have weighed on the company’s stock price.

Cisco’s mea culpa doesn’t have the writerly panache of another recent tech company admission of failures–Nokia CEO Stephen Elop’s “Burning Platform” memo. Chambers, like Elop, isn’t specific about what Cisco will do to right the ship, but it’s clear he’s prepping employees for a significant shake up.

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