Cisco Eliminating 6,500 Jobs

#-Link-Snipped-# Cisco Systems Inc plans to eliminate about 6,500 jobs, or 9 per cent of its full-time workforce, to help trim $1 billion in annual costs and step up profit growth.

The cuts include 2,100 employees who took a voluntary early-retirement program, Cisco said in a statement.

Cisco also said it will sell a manufacturing plant in Mexico, transferring 5,000 workers.