Cisco to Lay Off 1,300 Employees

Filed under: Industry News

John Chambers Cisco CEOCisco Systems Inc. said it would lay off about 1,300 employees, or 2% of its global workforce, as the networking giant continues its efforts to cut costs and boost profits.

The plan disclosed Monday follows job cuts a year ago and some stark comments in May about the state of the economy.

It also follows moves by other established tech-industry standbys, notably Hewlett-Packard Co., to eliminate jobs in an effort to increase growth.