Getting your player ready...
SAN FRANCISCO — Cisco Systems, the world’s largest maker of computer-networking gear, is reducing its workforce by about 9 percent to cut costs and raise profits as the company tries to become more competitive.
Monday’s announcement to cut 6,500 of its roughly 73,000 worldwide employees follows up on a plan disclosed in May to eliminate thousands of jobs. Two-thirds will come through layoffs, and the rest through an early-retirement plan. The company said 15 percent of employees at or above the level of vice president are being eliminated.
