We’ve been hearing that the reductions will be announced on August 17th or 18th and that they will be a part of a push to cut costs by 15 percent, with managers given some flexibility around how they implement this.
“A cost reduction of 15% that will include layoffs” is how one source described it. “Managers either cut costs or cut people.”
The rumors of cuts are clearly making the rounds: Trade magazine CRN yesterday reported layoffs of up to 14,000, and by our 15 percent number the figure might be more like 10,000. Cisco currently has around 72,000 employees worldwide.
A Cisco spokesperson told us that the company is in a quiet period prior to announcing their fourth quarter earnings this week, and would not comment regardless on rumor or speculation.
SOURCE: techcrunch
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