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Cisco to cut 6,000 workers over next year

telecom | 08/14/2014 4:36 pm EDT

Cisco Systems Inc. said Wednesday it will be cutting its workforce by about eight per cent, or 6,000 workers, over the next year as it restructures to concentrate its efforts on specific areas such as data centres and cloud networking. "These actions will impact up to 6,000 employees, representing approximately eight per cent of our global workforce," Cisco chief financial officer Frank Calderoni said during a conference call to discuss the company's fourth-quarter earnings. “We expect to re-invest substantially all of the cost savings from the restructuring actions in our...