Cisco to cut jobs of 4000 employees
By siliconindia   |   Monday, 16 May 2011, 15:47 IST   |    2 Comments
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Cisco to cut jobs of 4000 employees
Bangalore: After its disappointing Q3 results, where the profits declined by 18 percent, Cisco is planning to cut thousands of jobs around the world. Cisco is to cut 4000 jobs in coming months from the 73,000 workers to save $1 billion. Cisco is planning to cut job of even more employees in poorly performing division. Cisco's CEO John Chambers said, "We are moving quickly to fix what is broken. We have had to make big changes before and each time we have made these changes, we have emerged even stronger. We are embarking on a course that will address our challenges while building on our foundational strengths." Previously, Cisco had cut 550 jobs and after that they have stopped the production of Flip video camera. Well, Cisco is not the only company to cut jobs, Nokia and Panasonic has also announced layoffs.

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