Morning Coffee Apr 12 2011

Layoffs at Cisco; Flip RIP

By joseph walker

Cisco announced this morning that it would discontinue its Flip camera division and layoff 550 employees by the end of 2011.

The decision to cast off Flip was not unexpected. Last week, CEO John Chambers made news by announcing that the company would have to make substantial changes to get its business on track.

"It was anticipated," said Jim Kelleher, director of research and senior analyst at Argus Research. "Aspects of the other consumer products are all at risk in short order if they can't make it into a more profitable business."

Other recent consumer acquisitions include Linksys home routers, which have fared relatively well, cable set-top box maker Scientific Atlanta, and Webex web-conferencing software.

"Cisco's going to take a microscope to its entire organization and make some changes and that's a good thing, that's what they need to do," Brent Bracelin, senior analyst at Pacific Crest Securities said last week.

The company has 72,935 employees and says it will cost $300 million to complete the restructuring. (FINS)

ViVOtech Hiring Engineers (FINS)

The buzzed-about maker of near field communication technology will double its workforce annually over the next five years, ViVOtech CEO Mick Mullagh said.

Armor For The Talent War (BostInnovation)

Expertise in open source and script languages is the hottest commodity right now, while Core Java and C++ skill are less sexy to employers, says a Boston tech recruiter.

Nokia May Lay Off Thousands (Bloomberg)

The union representing Finnish Nokia workers says that up to 6,000 jobs are at risk as Nokia reduces its headcount in anticipation of adopting Microsoft's smartphone operating system.

Valley Teens Starting Businesses (SF Chronicle)

Are teen entrepreneurs the next generation of Zuckerbergs, or are they the equivalent of child soldiers?

Startups in India (WSJ)

A rising middle- and upper-class in India is prompting tech startups to set up shop in India -- a country once thought to be only a source of cheap labor for the Internet economy, not a market.

BrightSource Gets $168 Million (TechCrunch)

Google invested $168 million in solar power plant maker BrightSource yesterday. The money will go toward the development of a huge plant in the Mojave Desert.

How To Develop A 'Lean Startup' Strategy (Working Knowledge)

A Harvard B-School professor offers some counterintuitive advice about how to launch a successful startup (hint: do it quick).

Unhappy Means Unproductive Workers (FINS)

A new study says that people who are down in the dumps are much worse at making accurate predictions.

For all the news you need throughout the day, follow techFINSider on Twitter and Facebook.

Featured Employers
Featured Jobs
Veteran Jobs Promo
Search Technology & IT Jobs
Is your resume as impressive as you are?

A great resume is the key to landing an interview.

Does yours tell a compelling story – highlighting your accomplishments, focusing on your strengths, and reflecting your personal brand? If not, we can help.

Learn more about FINS Resume Service »
Log in