Additionally, Cisco said it will figure out other uses for Eos -- its media hosting business -- within the company.
Cisco says these moves will result 550 job losses and charges against earnings that are "not expected to exceed $300 million during the third and fourth quarters of fiscal 2011."
While these moves aren't exactly a surprise, they do collectively show just how far flung Cisco has become over the years, drifting from its core infrastructure businesses to more consumer gadget businesses and services, where the likes of Sony Corp. (NYSE: SNE), Apple Inc. (Nasdaq: AAPL), D-Link Systems Inc. , Pace Micro Technology and others already have solid footing. We'll have more reporting and analysis on these moves over the next several days.
- Scrutiny Hits Cisco's Consumer Business
- Investor Uprising at Cisco? (podcast)
- Cisco Starts Spring Cleaning
- Cisco Signals Major Restructuring
- Consumers Clobber Cisco
- Is Cisco Spread Too Thinly?
— Phil Harvey, Editor-in-Chief, Light Reading