Cisco cutting 310 headquarters jobs under strategy shift

epa05493212 (FILE) A file picture dated 12 August 2015 shows a sign at the Cisco Systems Inc., offices at Tewksb ury, Massachusetts, USA. CRN, a technology news site reported 17 August 2016 Cisco would lay off some 14,000 workers which represents some 20 per cent of Cisco's global staff of 70,000 employees. Cisco will report their 4th quarter earnings on 17 August 2016.  EPA/CJ GUNTHER

Bloomberg

Cisco Systems Inc., the biggest maker of computer networking equipment, said it will cut about 310 jobs at its headquarters in San Jose, California.
Cisco is trying to shift from a reliance on revenue from high-cost proprietary equipment, which some customers are turning away from, to software and services. The company has more than 73,000 employees, according Bloomberg data.
“Cisco regularly evaluates its business and will always make the changes necessary to effectively manage our portfolio and drive the most value for our customers and shareholders,” the company said. “As a result, this can mean realigning some areas so that we can invest in others such as security, data center/cloud and networking.”

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