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Cisco layoffs inspire downgrade

Cisco's layoffs were the least of its worries. News that the networking equipment maker will cut jobs was taken as a sign that things are much worse than anyone had expected--in the U.
Written by ZDNET Editors, Contributor

Cisco's layoffs were the least of its worries. News that the networking equipment maker will cut jobs was taken as a sign that things are much worse than anyone had expected--in the U.S. and overseas. Analysts slashed their targets on the company and said the stock's "U" may deepen yet. Story. --Tiffany Kary, ZDNet Inter@ctive Investor

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