1. Cisco: 4-day Year End Shut-Down (Estimated savings of $1 billion)
In 2008, Cisco observed a 4-day year-end shutdown scheduled between December 29 and January 2 in a bid to save $1 billion dollars. The holiday shut-down was implemented at a time when Cisco was also employing other cost-cutting tactics nearing the holiday. The shutdown move was to shift liability from the balance sheets into a cash expense. Other cost-cutting tactics that year included cutting travel costs, Christmas and New Year parties, and calling off their global sales conference, which is held annually. Unlike other companies, such as Yahoo, the mandatory leave was not unpaid.