Five Companies That Dropped The Ball This Week

Bad Week For Some Cisco Employees

Cisco this week confirmed plans to lay off about 1,300 people, or 2 percent of its worldwide workforce, citing a need to trim expenses. However, other reports put the number of people being laid off nearer 1,600.

Cisco declined to specify from which departments the layoffs would come.

Cisco, which says it regularly reviews its business to "align investment based on growth opportunities," last year laid off 6,500 employees.


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