[Reuters] Cisco to cut workforce by 15 percent, sell factory

Posted by: UGN Security

[Reuters] Cisco to cut workforce by 15 percent, sell factory - 07/19/11 12:03 AM

NEW YORK/SAN FRANCISCO (Reuters) - Cisco Systems plans to cut 15 percent of its jobs and sell a factory as part of a plan to cut annual expenses by $1 billion as the network equipment maker tries to revive its fortunes.