Cisco Systems Inc.(CSCO) will save $1 billion by shutting down for one week at the end of this year.
The San Jose, Calif.-based networking giant is imposing a mandatory shutdown from Dec. 29, 2008-Jan 2, 2009.
There will be some exceptions to the closure, including technical assistance and partner and customer ordering help.
Cisco’s stock closed more than 8 percent higher on Monday’s news, at $16.40.
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