Networking titan Cisco cuts 5,500 jobs as profit climbs
San Francisco economy
San Francisco - Arab Today
Cisco on Wednesday announced plans to cut seven percent of its global workforce as it shifts its focus from networking hardware to software and services.
The plan to eliminate 5,500 positions came as earnings reports that showed Cisco's profit for the fiscal year climbed to $10.7 billion, 20 percent more than the previous year.
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