<p>As many as 7,000 jobs would be eliminated by August-end, the people told the agency. Cisco is also providing early-retirement packages to about 3,000 workers who took buyouts, according to Bloomberg.<br /><br />Earlier, Reuters reported that Cisco may slash about 5,000 jobs to meet Chief Executive John Chambers’ goal of slashing costs by $1 billion. Reuters had cited Gleacher & Co analyst Brian Marshall. <br /><br />A Cisco spokeswoman told Reuters that the company will provide details on cost reductions, including layoffs, during its earnings call on August 11, 2011.<br /><br />Marshall’s estimate for job cuts at Cisco is higher than previous forecasts of up to 4,000 jobs that are in danger of being eliminated.<br /><br />Cisco warned in May that it planned to trim its workforce as part of a plan to cut some $1 billion in costs from its annual budget but did not disclose how many jobs would be cut. Cisco’s previous record layoffs came in 2001, when the company shed some 8,000 jobs.<br /></p>
<p>As many as 7,000 jobs would be eliminated by August-end, the people told the agency. Cisco is also providing early-retirement packages to about 3,000 workers who took buyouts, according to Bloomberg.<br /><br />Earlier, Reuters reported that Cisco may slash about 5,000 jobs to meet Chief Executive John Chambers’ goal of slashing costs by $1 billion. Reuters had cited Gleacher & Co analyst Brian Marshall. <br /><br />A Cisco spokeswoman told Reuters that the company will provide details on cost reductions, including layoffs, during its earnings call on August 11, 2011.<br /><br />Marshall’s estimate for job cuts at Cisco is higher than previous forecasts of up to 4,000 jobs that are in danger of being eliminated.<br /><br />Cisco warned in May that it planned to trim its workforce as part of a plan to cut some $1 billion in costs from its annual budget but did not disclose how many jobs would be cut. Cisco’s previous record layoffs came in 2001, when the company shed some 8,000 jobs.<br /></p>