Cisco To Layoff 6,000 Employees In The Coming Months

Cisco To Layoff 6,000 Employees In The Coming Months (Ping! Zine Web Tech Magazine) – After last week’s quarterly earnings announcement, Cisco revealed plans to lay off up to 6,000 employees, or 8 percent of its workforce, in the coming months as part of a restructuring plan, though a time frame was not given.

“We are focused on growth, innovation and talent, especially in the areas of security, data center, software, cloud and internet of everything. Our strategy is sound, our financials are strong, and our market leadership is secure,” said Cisco CEO John Chambers in a press release. “We have the team in place to deliver and are uniquely positioned to help our customers solve their biggest business problems.”

No specific details were given on what departments the cuts will affect, though a spokeswoman said it “will vary depending on the business need.”

Cisco’s fourth-quarter earnings announced Wednesday revealed a loss of revenue for the company. The company’s sales were $12.36 billion, down from $12.42 billion last year, CNN reports.