Cisco Said to Plan Cutting Up to 10,000 Jobs to Buoy Profit
Bloomberg, July 12, 2011
By Ashlee Vance
Cisco Systems, the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth. Cisco Chief Executive Officer John Chambers is slashing jobs and exiting less-profitable businesses as competitors take market share in Cisco’s main businesses with lower-priced, simpler products.
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