Cisco sells its STB factory in Mexico

The multinational has sold the set-top-box manufacturing plant in Ciudad Juárez (Mexico) to Foxconn Technology Group.

As part of the Action Plan that Cisco has launched to reduce its executive staff by 15% and its workforce in general by 9%, Cisco has just sold its set-top-box manufacturing plant in Ciudad Juárez in Mexico to Foxconn Technology Group.

Cisco had acquired this factory in 2006 from Scientific Atlanta, employing about 5,000 professionals. The sale operation, once approved by the competent authorities, could be concluded next October.

Cisco and Foxconn have had a close collaboration for years, so, according to Cisco executive vice president and chief operating officer, Gary Moore, “we will remain fully committed to our customers, service providers and partners, and will continue to invest in existing and new video platforms, including set-top-boxes, as part of our Videoscape vision.”