Cisco Confirms 11,500 Job Cuts As Part of $1 Billion Cost Cutting Measure Exceeding leaked insider predictions , Cisco today announced that the company would be cutting 11,500 positions , or about 15% of the company's workforce. The cuts are part of a significant effort to reduce costs by about a billion dollars annually. Cisco will transfer 5,000 to contract manufacturer Foxconn -- who will be buying a Cisco set top box manufacturing plant in Juarez, Mexico. Of the other 6,500 positions that are being eliminated, 2,100 will get early retirement. Roughly 15 percent of Cisco executives at the level of vice president and higher will be part of the cuts. Cisco will notify those U.S. and Canadian employees to be terminated sometime in the first week of August.







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