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08-18-2016, 01:13 AM
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Cisco to lay off at least 5,500 employees
Cisco to lay off at least 5,500 employees
   Cisco, the networking equipment company, is planning to lay off at least 5,500 employees. The company said it would lay off 5,500 workers, or 7 percent of its workforce, during its fourth-quarter earnings call Wednesday after**on, according to CNBC. It could get worseReports from earlier in the day, with the tech news site CRN citing sources within the company, said that the company could lay off as many as 14,000 employees, or closer to 20 percent of its global workforce. * The layoffs come as Cisco is transitioning from hardware to software.* "Today's market requires Cisco and our customers to be decisive, move with greater speed and drive more in**vation than we've seen in our history." Cisco said, according to CNBC.* Read more... More about Cisco and Business 
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