Tags: US | Cisco | Layoff | worker

Cisco to Lay Off Up to 6,000 Workers

Wednesday, 13 Aug 2014 05:46 PM

Cisco says it will lay off up to 6,000 workers, or 8 percent of its workforce, as part of a restructuring.

The company, which makes routers, switches and software, made the announcement during a conference call discussing its fiscal fourth-quarter earnings.

The San Jose, California-based company reported a 1 percent decline in profit, to $2.25 billion, for the latest quarter.

The company estimates pretax charges of up to $700 million, with about $250 to $350 million recorded in the current quarter, for the restructuring.

Shares fell 28 cents, or 1.1 percent, to $24.92 in after-hours trading.

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Cisco Systems, which makes routers, switches and software, plans to lay off as many as 6,000 workers, or 8 percent of its workforce, as part of a restructuring.
US, Cisco, Layoff, worker
96
2014-46-13
Wednesday, 13 Aug 2014 05:46 PM
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