Cisco lays off 700 employees

Editor's Note: Cisco is a an unusual company that has remained proprietary in a world of open source.  It has dodged the anti-trust bullet by creating firmware and software for it routers and switches that are manufactured by third parties. Some techs consider its products overly complex since it has relied on the command line for a long time. Perhaps someone has built a better mouse trap with an open architecture that has taken market share away from Cisco.

WASHINGTON: US computer networking giant Cisco Systems has laid off between 600 and 700 employees at its headquarters in San Jose, California, to reduce costs amid slow sales, The Wall Street Journal reported on Friday.

The company has also cut jobs at other branches in the United States, although the total number was not immediately clear, the business daily said, citing a person familiar with the matter.

"We are doing everything possible to minimize the impact on employees affected by the limited restructuring," a Cisco spokesman told the Journal. In February, the group had said it would likely eliminate between 1,500 to 2,000 employees, or three per cent of its workforce.

In late April, the company had some 66,550 employees. After Cisco reported a 24 per cent drop in its net profit, or US$1.3 billion dollars, in the third quarter, chief executive John Chambers nonetheless said in May that he saw signs of stabilization in the group's sales.  

http://infotech.indiatimes.com/News/Cisco-lays-off-hundreds-of-employees/articleshow/4789686.cms

 
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