September 21, 2016

Cisco to shed 5,500 staff in refocus on IoT, security, and cloud

The move will cost $700 million but is ultimately hoped to increase profits.

Cisco Systems plans to lay off about 7 percent of its global workforce in a restructuring that will see it further focus on hot IT areas such as the internet of things, security, collaboration, next-generation data centers, and the cloud.

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