Cisco to cut 6,500 jobs in cost-cutting blitz

Cisco Systems will cut about 6,500 jobs as part of an effort to focus its business and reduce operating expenses by about $1 billion per year, the company announced on Monday. The layoffs will eliminate about 9 percent of Cisco's regular, full-time workforce. In the ranks of vice president and above, Cisco said it will cut 15 percent of employees.

Source: http://www.infoworld.com/d/networking/cisco-cut-6500-jobs-in-cost-cutting-blitz-371

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