We’re hearing reports today that Cisco has cut 50 employees in their Austin Remote Operations Services (ROS) group up on Research Blvd. That is the former NetSolve that Cisco acquired back in 2004. NetSolve was founded back in 1987, and went public in 1999 at $13/share with almost 300 employees at the time. The rough economy and more competition caused some choppy waters for the company, and Cisco acquired them for just $11/share. Headcount today is reported to be at 250 employees.

Rough waters for Starbucks, and now Cisco? Maybe the economy really is slowing down?

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Filed under: Jobs