Cisco to Cut 1,100 More After a Down Q3
Cisco is cutting 1,100 more jobs as the company's sales continue to slide.
The cuts, an adjunct to the 5,500 layoffs announced in August, were announced today with third-quarter earnings, showing Cisco revenues fell 1% year-over-year to $11.9 billion.
CEO Chuck Robbins has pointed Cisco at a future focusing on areas such as security, the cloud and the Internet of Things (IoT). But the company's challenges include slower spending in some markets -- service provider video revenues were off by 30% compared with the previous year, for example -- and the transition to selling products as software subscriptions rather than hardware boxes.
Scott Ferguson has the full story on Enterprise Cloud News.
Craig Matsumoto, Editor-in-Chief, Light Reading