News Articles

Tuesday, July 19, 2011

Cisco to lose around 6,500 employees

Networking giant Cisco says it’s cutting approximately 6,500 jobs from its businesses worldwide, which will account for around 9% of the company’s jobs. This figure includes approximately 2,100 employees who’ve chosen early retirement.

The move is part of the company’s previously-announced plan to cut annual costs by $1 billion, to simplify the organization and to refine its operations.

In addition, Cisco’s set-top box manufacturing facility in Mexico is being sold to Foxconn Technology Group, with around  5,000 people becoming employees of Foxconn. Flip, Cisco’s video camera business, was earmarked for closure in April.

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Categories: NewsNumber of views: 707

Tags: cisco

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«October 2017»
MonTueWedThuFriSatSun
2526272829301
2345678
9101112131415
16171819202122
23242526272829
303112345

Archive

Terms Of Use | Privacy Statement