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Cisco will jettison 5,500 jobs
Cisco today confirmed it will lay off about 7% of its workforce – about 5,500 jobs.During its earnings announcement the company said total revenue was $48.7 billion, an increase of 3% over last year. Still the company faces challenges in its core switching and routing business.“Product revenue growth was led by Security at 16%. Collaboration, Wireless and switching product revenue increased by 6%, 5%, and 2%, respectively. Service Provider Video, NGN Routing and Data Center product revenue decreased by 12%, 6%, and 1%, respectively,” Cisco stated.To read this article in full or to leave a comment, please click here