Cisco Said to Be Cutting as Many as 10,000 Jobs

In the United States the main banks are shedding workers and cutting back on bonuses.
Meanwhile, as Michael Ruppert warned a few months ago, the earnings reports of companies, especially in the electronics area are showing a worsening situation.


Bloomberg
Cisco Systems Inc. (CSCO), the largest networking-equipment company, may cut as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, according to two people familiar with the plans.

The cuts include as many as 7,000 jobs that would be eliminated by the end of August, said the people, who asked not to be identified because the plans aren’t final. Cisco is also providing early-retirement packages to about 3,000 workers who accepted buyouts, the people said.