Cisco Slashes 15% of Jobs, Hints at Earnings Shortfall By Scott Moritz Senior Writer 3/9/01 3:48 PM ET
Citing evidence of what it called an expanding worldwide economic slowdown, Cisco (CSCO:Nasdaq - news) Friday set plans to slash its workforce by 15% while hinting at a third-quarter earnings shortfall.
The networker, which was rumored earlier this week to be considering job cuts, said it would slash 3,000 to 5,000 full-time and 2,500 to 3,000 temporary and contract jobs. Cisco employs 44,000 full-time and 4,000 temp workers. The cuts will take place in coming months through what the company coyly called "voluntary attrition, involuntary attrition, and the consolidation of some positions."
[Full text: http://www.thestreet.com/tech/telecom/1338238.html]
Carl
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