Cisco Cuts 129
Cisco Systems Inc. (Nasdaq: CSCO) is laying off 129 employees as it shuts down the Broadband Telephony Services unit in Richardson, Texas, according to yesterday's Dallas Business Journal.
It's got less to do with the economy and more with Cisco's not seeing much promise in the business, apparently. I don't recall ever hearing anything about Broadband Telephony Services out of Cisco, although VOIP gear, as in this 2006 announcement, is what comes to mind first. Cisco isn't offering further comment.
— Craig Matsumoto, West Coast Editor, Light Reading