Technology, Job Cuts | featured news

Cisco Systems plans to cut 15 percent of its staff and sell a set-top box factory as part of a plan to cut annual expenses by $1 billion as the network equipment maker tries to revive its fortunes.

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.

AOL will slash its workforce 20%, according to a person familiar with the matter, eliminating 950 jobs in the U.S. and India as it struggles to resurrect its business.

Internet media company Yahoo is preparing to cut as many as 650 jobs, or almost 5% of its workforce, in its latest move to streamline operations and cut costs.

Today is another sobering day for the tech and media world. We've heard multiple reports of significant layoffs at Current TV taking place today.