Here’s an interesting development to watch.  Compare Cisco’s most recent press release with Cisco’s previous layoff in 2001.

February 27, 2009
Today, Cisco began job cuts as part of a restructuring that could involved up to eliminating 2,000 positions.  However, up to 6,700 positions may be at risk if recession does not lift.

March 9, 2001
Cisco plans to cut up to 8,000 workers due to concerns that the tough US economic environment could spread internationally.

We’ll see if mass layoffs–defined as 10% or greater workforce reduction– can be avoided.