Cisco Could Eliminate as Many as 10,000 Jobs

SAN FRANCISCO -- Networking equipment company Cisco Systems Inc. could eliminate as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, Bloomberg said, citing two people familiar with the matter.

As many as 7,000 jobs would be eliminated by the end of August, the sources said. Cisco is also providing early-retirement packages to about 3,000 workers who took buyouts, according to Bloomberg.