Layoffs at Cisco
The 1,500 to 2,000 job cuts announced during Cisco’s (CSCO) second-quarter earnings call are apparently well under way. Sources say the company is sacking upward of 600 employees at its Silicon Valley headquarters today. The cuts are said to effect multiple departments.
In a statement, Cisco said, “This limited restructuring is part of our ongoing, targeted realignment of resources and was previously discussed on our fiscal second and third quarter 2009 earnings calls. While Cisco constantly manages its business priorities, resources and overall employee alignment as part of our overall business management process, we are sensitive to the impact these decisions have on employees during this challenging economic environment. We are doing everything possible to minimize the impact on employees affected by the limited restructuring.”