Technology, Cost Cutting | 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.

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.

Yahoo is shutting down its offices, except for "essential functions," from Dec. 25 through Jan. 1, as the Internet company searches for new ways to cut costs during the recession.