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

Posted by: UGN Security

[Reuters] Cisco to cut workforce by 15 percent, sell factory to Hon Hai - 07/19/11 12:48 AM

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