Cisco's Financial Analyst Day: 10 Thought-Provoking Takeaways

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Cisco Was Too Fat

The big Cisco story of 2011 is the company's corporate restructuring, and a piece of that is the headcount cuts Cisco has been making since the spring. More than 22,000 Cisco employees have been "realigned," Chambers said, as part of the restructuring, and 12,700 people will have exited the company when Cisco's 6,500-person layoff, early retirements, shuttering of certain consumer businesses and the transfer of a Juarez, Mexico-based Cisco factory are taken into account.

"We were fat," Chambers told conference attendees. "We had an extra four to five inches around the waistline."

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