Cisco Systems began offering early retirement buyouts to some U.S. and Canadian employees this week, the latest cost-cutting effort by the technology company.

Cisco didn't disclose details of the program, including how many people will get an offer, or how many the company hopes will take it.

But hundreds could be affected at the California company's Research Triangle Park campus, where it employs about 4,900 people. The minimum age for the buyouts is 50 for Cisco workers with 10 years experience with the company.
 

Nearly 300 Duke University employees have opted for an early retirement incentive program.

It's the university's first big move as it attempts to pare down its staff and shave $125 million from its annual operating budget.

Still, the university has not yet ruled out layoffs if things don't get better.

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