Cisco Systems (CSCO) will soon cut its workforce by 7%, according to Gleacher & Co.'s Brian...

|About: Cisco Systems, Inc. (CSCO)|By:, SA News Editor

Cisco Systems (CSCO) will soon cut its workforce by 7%, according to Gleacher & Co.'s Brian Marshall. It's estimated the job cuts will save Cisco $1B in annual expenses, and boost its calendar 2012 EPS by 8%. While positive on the move, Marshall still believes Cisco needs to lower its long-term growth and operating margin targets.