Cisco may cut up to 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, two people familiar with the plans told Bloomberg. The cuts include as many as 7,000 jobs that would be eliminated by the end of August. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts, the sources said. Eliminating jobs will help Cisco wring USD 1 billion in savings in fiscal 2012, the company said in May. Cisco expects costs of USD 500 million to USD 1.1 billion in the fiscal fourth quarter as a result of the voluntary early retirement programme, it said in a quarterly filing. A spokesman said more details would be provided at the next earnings announcement, in early August. The voluntary retirement packages included one year's pay and medical benefits, and were offered to about 5,800 employees, according to the report.
