Printed from http://www.electronista.com

Cisco set to slash 10,000 jobs

updated 11:10 pm EDT, Mon July 11, 2011

Workforce to be reduced by 14%

Cisco is reportedly preparing to reduce its workforce by approximately 14 percent, a move that may eliminate 10,000 positions. The company is said to be planning 7,000 layoffs by the end of August, while early-retirement incentives will be offered to another 3,000 employees, unnamed sources have told Bloomberg.

The workforce reductions are said to be part of a broader strategy to bolster profits as the company loses market share to its competitors. The sources suggest CEO John Chambers is also planning to shift the company's focus away from business segments that are struggling to make profits.

Cisco recently killed its Flip efforts following lackluster sales of the small video cameras. Analysts expect more cuts in the company's consumer-product division, potentially affecting the home-networking equipment produced under the Linksys label.

The company is expected to formally announce its restructuring plans during an earnings call scheduled for August.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. iphonerulez

    Dedicated MacNNer

    Joined: Nov 2008

    0

    Terrible! More jobs losses in

    a struggling economy. I sure hope the employees losing their jobs get some sort of severance pay. Cisco's business must be in really bad shape if that many employees are being laid off.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Sponsor

toggle

Most Commented

 
toggle

Popular News