Cisco to cut 9% of it’s workforce

By on July 21, 2011
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Move will see 6500 workers lose their jobs in a bid to increase profitability


Cisco, makers of the popular flip camera, has announced that in a bid to increase profits, it will be terminating 9% of it’s workforce. The move, which will see 6,500 workers lose their jobs is actually better than speculators thought. Many anticipated the company killing off 10,000 employees.

A report in BGR pins this to cutting $1 billion in annual costs while nudging profits. Bloomberg is also reporting that of the 6,500 employees, 2,100 have agreed to settle for an early-retirement program.
Other cost cutting measures will see Cisco selling a manufacturing facility in Juarez, Mexico to Foxconn. This move will not see the 5,000 employees currently working there lose their jobs but will most probably see them transferred elsewhere.


Humourist, news-junkie, bassist, petrol-head and techie. Best when caffeinated. Seasoned collector of lame puns and professional grumpy old man. Follow him on twitter: @nabilfahim

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