Saturday, August 20, 2016

Cisco to cut 5,500 jobs, adding to wave of US tech layoffs - BUT HIDDEN IN EACH AND EVERY AMNESTY HOAX IS A LIFT OF ALL LIMITS ON TECH HIRING FOREIGN BORN TO KEEP WAGES DEPRESSED

FROM LA RAZA "The Race" DONORS MARK ZUCKERBERG TO BILL GATES, YOU WILL NOT FIND A TECH BILLIONAIRE THAT DOES NOT WANT TO KEEP THE FLOOD OF FOREIGN BORN TECH WORKERS COMING!

IT'S ALL ABOUT KEEPING WAGES 

DEPRESSED AND PROFIT MARGINS 

SOARING!


Cisco to cut 5,500 jobs, adding to wave of US tech layoffs

Cisco to cut 5,500 jobs, adding to wave of US tech layoffs

By Barry Grey 
19 August 2016
Cisco Systems, the San Jose-based tech giant, announced Wednesday it will slash 5,500 jobs, or 7 percent of its 78,000-strong work force. In a conference call with analysts to discuss the firm’s fiscal fourth-quarter results, CEO Chuck Robbins said layoff notices would begin going out next quarter.
The Cisco announcement is the latest in a growing wave of job cuts in the US hi-tech sector, based in Northern California’s Silicon Valley. Last April, Intel said it would cut up to 12,000 jobs, nearly 20 percent of its global work force. In January, Dell said it had shed 10,000 jobs. The computer giant is expected to carry out further reductions after it closes a $67 billion deal to acquire data storage company EMC.
So far this year US technology companies have eliminated some 63,000 jobs, according to outplacement consulting firm Challenger, Gray & Christmas.Fortune magazine on Thursday quoted Trip Chowdhry, an analyst at Global Equities Research, as saying, “The high-tech industry is going through a serious deconstruction. There is more pain to come.”
In January, Chowdhry projected layoffs in the tech industry hitting 330,000 this year. On Wednesday, he said he had raised his estimate to 370,000.
Two years ago this month, Cisco announced 6,000 job cuts. Since August of 2011, the company has slashed a total of 23,200 jobs.
Cisco is one of the world’s largest producers of switches and routers used to funnel data over the Internet and between computers in data centers. However, its business in this area has slowed in recent years as telecom carriers and other service providers have increasingly turned to cheaper software-driven methods of moving data.
Particularly since Robbins took over as CEO a year ago, the company has focused on shifting its business model toward producing its own software, acquiring smaller companies that specialize in technologies such as cloud computing. Under Robbins, Cisco has already bought ten companies.
The turn to cheaper technologies is bound up with increasing competition and pressure on profit margins as well as a general downturn in investment in plants and equipment, a central feature of the continuing stagnation in the real economy worldwide since the Wall Street crash of 2008.
In his conference call Wednesday, Robbins reported that revenue from telecom carriers and other service providers declined 5 percent in Cisco’s fiscal fourth quarter, ended July 30. Revenue from the company’s router business declined 6 percent while switching revenue increased by 2 percent.
Despite an overall revenue decline of 1.6 percent, Cisco’s fourth-quarter net profit rose to $2.81 billion, or 56 cents a share, from $2.32 billion, or 45 cents, a year earlier. The profit increase was mainly due to cost-cutting.


California’s Top Export Continues to Be Its Middle Class

by CHRISS W. STREET17 Aug 2016Newport Beach, CA


In the latest update by the IRS for the period of 2013 to 2014, California exported a net 57,900 citizens, whose average incomes were $7,100 higher than the state’s average.

The Internal Revenue Service (IRS) just released its July 1, 2013 to June 30, 2014 migration data, which “approximates the number of individuals” who moved between states in the U.S.

California was the third largest net exporter of citizens behind Illinois (82,000) and New York (126,800). In total, 30 states and the District of Columbia experienced net domestic losses between 2013 and 2014.

But California was number one in exporting the highest income spread. California’s average income per person is $36,100, which equates to about $17.00 per hour. But the average citizen that migrated out of the state had an average income of about $43,200, or $21.00 an hour. Consequently, California is losing a big chunk of its upper middle class consumers and taxpayers.

According to Hoover Institution research fellow Carson Bruno, who studies California’s political and policy landscape, “Not only are Californians leaving the state in large numbers, but the people heading for the exits are disproportionately middle class working families — the demographic backbone of American society.”

The only reason that the Golden State achieved a net population gain was the  approximately 170,000 mostly illegal/undocumented immigrants streaming into California. The state is now home to more than 10 million immigrants, and about one in four of the foreign-born population in the U.S. now lives in California.

Foreign-born residents also represent more than 30 percent of the population of seven California counties: Santa Clara, San Francisco, Los Angeles, San Mateo, Imperial, Alameda, and Orange. And about half of the children in California have at least one immigrant parent.

Texas had the highest net domestic migration in the 2013 to 2014 period, with 229,300. Florida was ranked second in net domestic migration, with 114,400 — which was nearly 4 times as large as third ranking South Carolina (30,100). Colorado followed closely, at 29,500 net domestic migrants, with Washington placing fifth with 27,000.

Carson Bruno comments, “[W]hile there is a narrative that the rich are fleeing California, the real flight is among the middle-class.” His reveals documents that working middle-class young professional families, California has an extraordinarily high cost-of-living:

The median California home value per square foot averages 2.1 times higher than Arizona, Texas, Nevada, Oregon and Washington’s;
California’s energy costs are about 1.5 times higher than neighboring states; and
The Golden State now ranks sixth nationally for state-local tax burdens.

Bruno notes that the national average for the percent of middle-class households that used more than 30 percent of their income to cover rent was 31 percent. But for California, over the last decade, the percentage of rent “cost burdened” jumped from 38 percent to over 53 percent.

The average percent of “cost burdened” with a payment of more than 30 percent of income to buy a home in the United States is about 40 percent. But in California, the percent with a mortgage that are “cost burdened” is over 66 percent.

Demographer Joel Kotkin of Chapman University agrees: “California’s middle class is being hammered,” he writes. Catkin notes that state home ownership declined from 59 percent in 2009 to 54 percent today. Despite being one of the states with the highest rates of home ownership in the 1950s, California now ranks second from the bottom, ahead of only New York.

Bruno acknowledges that Governor Jerry Brown is correct when he claims that California has added 2.3 million jobs since 2010. But Bruno’s data demonstrates that the vast majority of the supposed economic gains amounted to low-paying service jobs. In the traditionally high-paying middle class job bastions of construction, finance and manufacturing, employment is still below the 2007 levels, before the Great Recession.


…………….. WILL MEXICO ELECT ALL FUTURE AMERICAN PRESIDENTS?


The 730,000 young people brought to the U.S. as children without legal status are prohibited from voting. Known as Dreamers, they’ve proven themselves to be a powerful organizing force in American  politics, mounting a high-profile public campaign that pressured President Barack Obama to grant many of them and their parents reprieves from deportation through two executive orders.


BARACK OBAMA AND THE LA RAZA MEXICAN DRUG CARTELS….

There’s more than one way to destroy America’s white middle class!



HSBC laundered hundreds of millions and perhaps billions of dollars for drug cartels responsible for the deaths of tens of thousands of people over the past two decades. The bank transferred at least $881 million of known drug trafficking proceeds, including money from the Sinaloa Cartel in 

Mexico, which is known for dismembering its victims and publicly displaying their body parts.


925k CRIMINAL ILLEGALS NOT DEPORTED


OBAMA’S OPEN BORDERS TO DESTROY THE AMERICAN MIDDLE CLASS  - MILLIONS OF INVADING CRIMINALS NOT DEPORTED


OPEN BORDERS KEEPS WAGES FOR LEGALS DEPRESSED AND BUILDS THE LA RAZA SUPREMACY PARTY BASE FOR THE DEMOCRAT PARTY HELL BENT ON DESTROYING THE GOP WITH AN ENDLESS INVASION BY MEXICO!



LA RAZA ILLEGAL CARLOS ESPARAZA RAPED A 7 YEAR OLD. THEN HE WENT OUT AND VOTED DEM FOR WIDER OPEN BORDERS!




CARLOS ESPARAZA IS AN ILLEGAL. HE JUMPED OUR BORDERS TO RAPE A 7 YEAR OLD AND TO VOTE FOR MEXICAN ENDORSED LA RAZA HILLARIA CLINTON.


OPEN BORDERS KEEPS WAGES FOR  LEGALS DEPRESSED HUNDREDS OF BILLIONS PER YEAR, AND BUILD THE DEMOCRAT PARTY'S LA RAZA SUPREMACY BASE OF MEXICAN LOOTERS…. We also get the tax bills for Mexico’s welfare state on our backs and the LA RAZA crime tidal wave that comes with them!

 http://mexicanoccupation.blogspot.com/2013/10/america-la-raza-mexicos-wide-open.html


Sen. Kaine: Immigration Is ‘Like Transfusion Of Fresh Blood Into The Bloodstream’



THE OBAMA-CLINTON AMNESTY KEEPS WAGES DEPRESSED, DESTROYS THE 

 

AMERICAN MIDDLE CLASS AND BUILDS THE DEMOCRAT PARTY'S LA RAZA

 

PARTY BASE OF MEXICAN FLAG WAVERS.





"More than 728,000 illegal immigrants have been shielded from being deported and 

 

granted work permits through President Barack Obama’s 2012 executive amnesty 

 

program, according to the Migration Policy Institute."



LA RAZA ILLEGAL CARLOS ESPARAZA RAPED A 7 YEAR OLD. THEN HE WENT OUT AND VOTED DEM FOR WIDER OPEN BORDERS!




TOM TANCREDO: THE CLINTON, OBAMA AND PAUL RYAN CONSPIRACY TO SABOTAGE HOMELAND SECURITY.

FOR THE DEMOCRAT PARTY, MEXICO'S INVASION, OCCUPATION AND EVER EXPANDING WELFARE STATE KEEPS WAGES DEPRESSED, BUILD THE DEMS' LA RAZA PARTY BASE, AND DESTROYS THE GOP.


WE ARE SOON TO BE A ONE PARTY NATION WITH OPEN BORDERS FOR THE MEXICAN HORDES AS THEY JUMP OUR JOBS, WELFARE OFFICES AND VOTING BOOTHS WAVING THEIR MEXICAN FLAGS!

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