Cisco could cut up to 10,000 jobs in cost-trimming exercise

Cisco could be on the verge of announcing up to 10,000 redundancies, or 14 per cent of its workforce, according to reports from the US. Citing sources familiar with the plans, Bloomberg has today reported that 7,000 could go in August, and 3,000 more are likely to come in the form of early retiremen

Cisco could be on the verge of announcing up to 10,000 redundancies, or 14 per cent of its workforce, according to reports from the US.

Citing sources familiar with the plans, Bloomberg has today reported that 7,000 could go in August, and 3,000 more are likely to come in the form of early retirement packages.

If indeed true, the move would be the first outwardly tangible sign of a major cost-cutting drive, first announced by CEO John Chambers on Cisco's last quarterly results call.

The firm is currently trying to excise $1bn in costs during fiscal 2012 after a series of torrid quarters that saw Cisco lose out to nimbler rivals such as HP Networking and Juniper.

Cisco has already taken an axe to its troubled consumer business as it seeks to refocus on its core switching and routing activities, a move welcomed by channel partners.

A Cisco spokesperson told Bloomberg that the firm would not officially discuss redundancies or other cost-cutting moves before its next quarterly results announcement.

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