Cisco Fires 5,500 Workers, About 7% Of Global Workforce

– Cisco Fires 5,500; Market Disappointed It Wasn’t More – Shares Fall:

“Today’s market requires Cisco and our customers to be decisive, move with greater speed and drive more innovation than we’ve seen in our history. The restructuring will eliminate up to 5,500 positions, representing approximately 7 percent of our global workforce, and we will take action under this plan beginning in the first quarter of fiscal 2017.”

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