Major changes for Cisco
The combined number of jobs leaving Cisco’s payroll through retirement, transfer to Foxconn or outright firing is 11,500. That number amounts to about 14 percent of Cisco’s total headcount of 78,000 and change. If the plan that CEO John Chambers announced during the company’s most recent earnings conference call holds true to the plan and Cisco cuts $1 billion from its annual operating costs, then the average savings works out to about $87,000 per job.
Cisco Systems Announces Plan To Cut 6,500 - Arik Hesseldahl - News - AllThingsD
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