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Cisco: Job Listings Drop 93 Percent in a Week

in News on November 21, 2008 at 11:10 am PT

Cisco, true to its word, began reducing its headcount this week. Drastically. Aaron Rakers, an analyst at Wachovia Capital Markets, noticed that the total number of the company’s job listings has fallen 93 percent in the last week. Rakers isn’t specific about how many of those jobs are in Silicon Valley, but job-listing businesses advertising on the radio in the Bay Area may want to change their recession-defying promises of “thousands of job openings” to “thousands of applicants.”