Cisco to lay off 5000 full-time and 3000 casual laborers

Cisco System(4333) announced to trim the staff as US economy is slowing down and other parts of the world is influenced as well. The slowdown of the capital expenditure is expected to last for two quarters. The company said the staff to be laid off included 5000 full-time employees and 3000 casual laborers. Cisco is expected to save US$300 ¡V 400 mln in Q4 of 2001 fiscal year by trimming staff.

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