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Data coming out today show applications for unemployment fell to a four year low now this may be a sign of improvement for the economy but many Americans are still locals -- -- -- -- -- -- -- jobs that just can't be filled this may be a shadowy area here we found one CEO.
Who was actually investing in simply training recent college graduates to improve their career prospects.
Michael quite go as CEO of brocade.
This is -- fibre channel switches company Silicon Valley joining us.
In a Fox Business exclusive and Michael part of the issue and -- we talked to a lot of CEOs in the say.
We want to hire we just can't fill the jobs.
What now what you know you get a college graduate who comes out doesn't know how to do that specific job -- -- training them what are you guys doing.
People is we started.
Almost four and a half years ago when we look than in the fact that even though there is very high unemployment many areas that -- specific area this lesson 3%.
And so -- You can't continue to just moved from job to job without replacing him putting new people into the workforce and so some of the smartest people in the marketplace are coming -- right out of the university.
We put a -- place -- nineteenth class now on the last.
Three and a half years.
Where we bring them in and we teach in the skill sets to transition from the university and college set into the business environment and it's been very successful -- Michael -- complaints I hear from tech CEOs and I've seen it myself as they say look we get a lot of really great resonate is a problem is.
Many of them -- from outside the United States we think that's true.
Well I think it's a Cason -- any technology company are in -- get any company at this point in time.
So we actually higher in India for some of our Indian operations that 70% of the college grads that we -- for the company are -- based in the US and we're finding.
Yeah folks or bringing onboard effects 16% of the people that we bring on every year.
Our recent college graduates and more than 40% of may have advanced -- so we're finding the talent.
And it's an attractive place we're using as an attraction to bring these very Smart young people.
Into the workforce and that'll work for us.
In the -- days companies used to train their employees and that kind of stopped and now they sit around complaining not you guys but.
They complain -- I can't find somebody to fill this job at a nuclear power plant well may be the onus is not.
Entirely on the government to help people find jobs but on private sector industry to say all right we've got to put together training programs.
How cost intensive visit for a company like yours to have set this up.
We know it's that there is some start up costs to go with that that it's not it's not that cost it's the culture.
You have to go ahead and be able to accept the people into the company.
And not only that is we have over 400.
Mentors who are literally standing in line saying when we bring new people and I wanna go and have an opportunity to meant herself while it's a cultural aspect more than it is anything about a cost aspect.
My -- stocks down over 20% over the last yeah I how do you get an investor confidence in the company and -- I know it's a tough environment but what would you say to investors its.
Well I think what we have to do as we got to continue to execute on the strategy that we laid out in there has been some ups and downs in terms of the world economy and so forth lives aren't excuses -- -- -- we have every company has to deal looked at this point in time.
The strategy -- executing on as the right one were in the and I just have to -- -- but the results up.
That -- show that the investments that we made we yield the results so I have seventy more days left in this quarter.
Now reporting in you know sometime late in August.
And then that'll have to be the kind of a proof point we just have to prove along.
Why we're -- we'll watch the developments here and inspiration and I hope a lot of CEOs are watching right now say you know what we -- follow -- brocade -- yes no kidding Michael Clayton thanks so much.
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