PLANT

Cisco laying off 6,000 workers in restructuring

Job cuts will affect workers in operations around the world.


NEW YORK — Cisco will lay off up to 6,000 workers, or 8% of its workforce, as part of a restructuring.

The company, which makes routers, switches and software, said the layoffs will affect workers in operations around the world.

The San Jose, California-based company has reported a 1% decline in profit, to $2.25 billion, as revenue dipped to $12.36 billion from $12.42 billion.

During the conference call, Chief Financial Officer Frank Calderoni said the company estimates pretax charges of up to $700 million, with about $250 to $350 million recorded in the current quarter, for the restructuring.

© 2014 The Canadian Press

Have your say:

Your email address will not be published. Required fields are marked *

*