Do the Looming Cisco Lay Offs Affect You?

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Cisco announced Monday that it will reduce its workforce by 6,500 employees
in the first half of August as part of its effort to adjust its business to
increased competition in the switching and router market.

The reduction consists of 2,100 employees who have elected to take early
retirement and 4,400 who will be laid off. Cisco noted that the ranks of
vice president and above will experience a 15% reduction in force and the
full-time, regular workforce a 9% reduction. Those in the U.S. and Canada
will get the word in the first week of August. Other global workforce
reductions will occur soon after in compliance with local regulations, Cisco
officials said.

http://www.informationweek.com/news/infrastructure/switches/231002056

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Received on Tue Jul 19 2011 - 09:36:30 ART