Cisco cutting about 310 headquarters jobs under strategy shift
(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 to data compiled by Bloomberg.
“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 in a statement. “As a result, this can mean realigning some areas so that we can invest in others such as security, data center/cloud and networking.”