John Chambers of Cisco is forecasting a decline in sales.
Sales will decline as much as 10 percent in the second quarter, which ends in January, Chambers said yesterday on a conference call. In August, he predicted a gain of 8.5 percent from a year earlier.
Business changed course after the credit crunch hit, pushing October orders down 9 percent, Chambers said, adding that his comfort level with the forecast was the lowest since the dot-com bust in 2000. Chambers plans to save $1 billion in costs over the next three quarters by curbing hiring, business travel and relocations.
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