The Total Collapse Of Businesses Is Shocking
KingWorldNews.com
August 19, 2020
The total collapse of businesses is shocking.
Look At The Total Collapse Of Businesses
August 18 (King World News) – Gerald Celente: Each week we highlight how the COVID War waged by politicians has destroyed market sectors and devastated business. Here are some of the latest companies that have taken an economic hit.
CISCO SYSTEMS MAKES CUTS. The network equipment company will cut more than $1 billion in costs over the next several quarters and offer early retirement to workers after posting a 9-percent drop in second-quarter sales and its first annual revenue decline since 2017.
The company also will refocus its research and development to emphasize security and cloud computing.
STEIN MART GOES BUST. The 112-year-old chain selling clothing and linens filed for Chapter 11 bankruptcy on 5 August.
The company will close “a significant portion, if not all” of its more than 250 stores, located in California, Texas, and the U.S. southeast and is considering selling its website and intellectual property.
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