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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Shack who wrote (78211)3/9/2001 4:49:59 PM
From: MythMan  Read Replies (3) of 436258
 
Cisco to Cut Jobs, Sees Deeper Slowdown

Mar 9 4:22pm ET

By Eric Lai and Duncan Martell

SAN FRANCISCO (Reuters) - Cisco Systems Inc. , the leading maker of networking equipment for the Internet, said on Friday it would cut its full-time workforce by as much as 11 percent over the rest of the fiscal year because of signs the economic slowdown is spreading and could run longer than anticipated.

In a statement, Cisco said it would cut between 3,000 to 5,000 regular jobs, a number equivalent to between 7-11 percent of its global employee base of 44,000. The disclosure by Cisco follows a Reuters report late Thursday night that the San Jose, Calif.-based company would be making cuts.
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