NEW YORK (CNNMoney) -- Cisco announced plans on Monday to lay off 9% of its workforce and to transfer another 7% of its staff to another company in a sale of one of its businesses.
The networking giant said it would hand out pink slips to 6,500 employees, including 2,100 who volunteered for early retirement packages.
The move is part of a previously announced plan to streamline Cisco's business in an attempt to clarify the company's role in the tech world. Cisco has struggled to grow in recent quarters, and CEO John Chambers' tone has grown increasingly pessimistic.
More:
http://money.cnn.com/2011/07/18/technology/cisco_layoffs/index.htmWe need jobs, so people can purchase products, in which will create more jobs, it has always been demand, not tax cuts, creates jobs.
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
