Cisco cuts 11,500 people worldwide

The News (reporter Sun Suyi) in Nokia and other IT vendors announced the global layoffs plan, the world's leading Internet solutions provider Cisco also joined the downsizing company's camp. Beijing time yesterday, Cisco announced that it would lay off about 6500 people to reduce its annual operating expenses.　　Cisco will also sell its set-top box manufacturing facility in Mexico, with 5,000 of its employees to be transferred, and Cisco's total layoffs will reach 11,500, the biggest layoffs of the year.　　According to Cisco's documents, layoffs range from all of its global business units, including about 2,100 employees who have been nominated and volunteered to participate in early retirement, and will involve about 15% per cent of the vice presidents and above-level employees, about 9% of the total number of full-time employees.　　Cisco has not released details of the overall layoff plan, and the number of job cuts around the world is still unknown, a reporter called Cisco yesterday, and its head said, "So far, China's business has not changed." As HP, Juniper Network, Huawei and other rivals to take a low-cost strategy to plunder the market, once ranked "the world's Top 500," the fourth Cisco performance is falling, the latest announcement is expected to 2011 fiscal year in the third quarter Cisco's losses will reach 750 million U.S. dollars, and 2008 when its net profit of $7.8 billion.