Back on July 14, 2009, Barack Obama’s TelePrompter announced we were planning to spend $12 billion in partnership with Cisco Systems to reducate (and reeducate!) workers for the future.
On Tuesday, July 14th, President Obama announced his $12 billion American Graduation Initiative that focuses on using our community colleges to educate (and reeducate) workers for our future.
During his talk, he referred to Cisco as an example of a company partnering with schools to deliver programs that will train workers for new jobs.
He’s really got the golden touch, doesn’t he? Flash forward exactly two years.
As Cisco looks to reduce costs, the once renowned company is now looking to cut 10,000 jobs. With 3,000 employees accepting early-retirement packages, another 7,000 are facing layoffs.
Cisco employees aren’t the only ones shaking in their boots. Companies nationwide are also experiencing job cuts. From big international banks such as UBS to local school districts, employers are looking for ways to survive in an increasingly weakening economy.
Is it racist to point this stuff out?