5 Companies That Dropped The Ball This Week


Cisco Trims 500 Jobs In Latest Round Of Layoffs

Cisco is cutting 500 jobs as part of an effort to "align investments based on growth opportunities," a spokesperson told CRN. "Earlier this week, Cisco performed a limited restructuring that will impact approximately 500 employees which is less than 1 percent of our population globally. These actions are subject to local legal requirements, including consultation, where required."

The reduction in force is part of Cisco's ongoing effort to trim $1 billion in expenses. Cisco laid off 1,300 employees in July, and in 2011 cut 6,500 positions, 15 percent of them vice president-level or higher positions.

 



Next Page