Cisco confirms 6,500 job cuts

Tuesday 19 July 2011 | 09:09 CET | News
Cisco confirmed it will cut 6,500 jobs as part of its plan to reduce operating expenses by USD 1 billion. Around 2,100 employees have already agreed to a voluntary early reitrement, and the remainder will be redundancies. Cisco noted that the job cuts also include a 15 percent reduction of vice president level and above employees. Overall, this represents a reduction of around 9 percent of Cisco's regular full-time workforce. All affected employees will receive severance pay and outplacement assistance. North American staff will get their notice in early August, with staff affected in the

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Categories: Fixed
Companies: Cisco UK / Foxconn
Countries: World
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