Cisco cuts 129 as CEO says "no cuts" There's a thin line between "cheerleader" and "liar." And Cisco CEO John Chambers likes to wave his pom-poms over it. Speaking at a Gartner conference, Chambers said the company wasn't planning any cutbacks , commenter sample032 noticed . On Monday, Cisco filed papers to start a mass layoff of 129 employees in its Richardson, Texas facility. Not technically a lie, a Cisco spokesman maintained to the San Francisco Business Times , because the company "continuously evaluates its businesses to align human and capital resources to address key growth opportunities and improve efficiency." The new euphemism for "layoffs" is "business as usual."