Cisco Systems, one of the largest makers of computer networking equipment, announced on Wednesday that it would cut 7 percent of its workforce. This round of layoffs comes on top of another round of cuts Cisco made earlier this year. Cisco said in February it would cut 5 percent of its global workforce.
Cisco Systems says it is planning to lay off 7 percent of its employees. This is the company's second round of job cuts this year as it shifts its focus.
Cisco Systems announced a restructuring plan on Wednesday in order to invest in key growth areas. The company said the layoffs are part of a plan to reduce costs and improve efficiency.
Aug 9 (Reuters) - Cisco CSCO.O will cut thousands of jobs in a second round of layoffs this year as the US technology company shifts its strategy towards software and recurring revenue.
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