Cisco to cut about 700 jobs at headquarters

• Source: Xinhua
• [09:28 July 17 2009]
• Comments

In response to the global recession, Cisco Systems is planning to cut as many as 700 jobs at its Silicon Valley headquarters, U.S. media reported on Thursday.

The layoffs will be in the range of 600 to 700 employees and will be "company wide" and involve "multiple departments," the San Jose Mercury News said in a report on its website, citing a source close to the company's leadership.

The cuts are part of a restructuring effort announced earlier by the world's biggest networking equipment maker, the newspaper said.

Cisco Chief Executive Officer John Chambers forecast in February that 2,000 positions would be eliminated from Cisco's global work force of about 66,560 because of the restructuring.