Home From the Wires Cisco Systems Inc. to cut another 6,000 jobs

Cisco Systems Inc. to cut another 6,000 jobs

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Thursday, August 14, 2014

Reuters: The network equipment maker said it plans to cut another 6,000 workers as it transitions towards a new cycle of high-end switches and routers.

The company announced in August 2013 that it would cut 4,000 jobs. And in 2011, it said it planned to reduce its workforce by more than 11,000.

Cisco reported a net profit of $2.8 billion in the fiscal fourth quarter, flat from the year-ago quarter and adjusted earnings of 55 cents per share. That exceeded the consensus forecast of 53 cents.

Read more here.

 

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