And sells off another 5,000 to Foxconn
Networking giant Cisco Systems is going to get 11,500 employees smaller. After Wall Street closed today, Cisco said that it was going to cut 6,500 workers to get its costs more in line with its revenue streams, and added that it was selling off a set-top box manufacturing plant in Mexico with 5,000 employees to Chinese manufacturing Foxconn Technology Group.?
Source: http://go.theregister.com/feed/www.theregister.co.uk/2011/07/18/cisco_layoffs_foxconn_sale/
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