That's what Cisco Systems Inc. (Nasdaq: CSCO) is telling some of its contractors, whether they want to hear it or not.
Contingent workers (as Cisco calls them) in Canada, China, India and the U.S. are on furlough April 18 through 22, according to a memo to suppliers that was forwarded to Light Reading. The cost-cutting move is happening just before the end of Cisco's third quarter, on April 30.
The furlough means the contingent workers aren't allowed to come to work and won't get paid for the week. Contractors doing critical work were able to request exemptions.
Cisco sent the memo on March 17, so it's not a spontaneous move, but rather something Cisco has been planning for weeks.
Cisco didn't immediately return a call for comment, but one source who regularly deals with the company verified that the furlough notice is real.
"It doesn't feel like a good thing," the source said -- which sums up the situation well. A contractor furlough doesn't necessarily mean the sky is falling in, but it's not something a company does during good times.
Here's our coverage of Cisco's reorganization so far.
- End of an Eos
- Cisco Flips on Consumer Business
- Scrutiny Hits Cisco's Consumer Business
- Cisco Starts Spring Cleaning
- Cisco Signals Major Restructuring
- Consumers Clobber Cisco
— Craig Matsumoto, West Coast Editor, Light Reading