When Cisco CEO John Chambers says he plans to slash spending, he means it. Cisco has implemented a mandatory shutdown of U.S. and Canadian operations between December 29 and January 2.
During his fiscal year ’09 Q1 report, Chambers said the company would reduce expenses by $1 billion, slashing travel and discretionary-related expenses, including events, tradeshows, marketing and other activities.
Cisco has already cancelled its November Women’s Leadership Forum and its August 2009 Global Sales Meeting. The company will hold its annual C-Scape event in December, but it will be smaller than usual.
The company also still plans to hold its partner summit in Boston scheduled for the first week in June.
During the coming shutdown, a couple of business-critical Cisco departments will remain open — one being technical assistance. Cisco did not release exactly how much cash the shutdown will save.