Cisco Systems to cut 5,500 jobs after reporting 2% drop in revenue
by Rupert Neate, Alex Hern and agencies from on (#1QQX8)
About 7% of global workforce to go, as networking company moves away from hardware to focus on software and cloud technology
Cisco Systems is to cut about 5,500 jobs, representing nearly 7% of the US technology company's global workforce.
The world's largest networking gear maker, based in San Jose, California, announced the cuts on Wednesday night as part of a transition from its hardware roots into a software-centric business.
Continue reading...