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© filmfoto dreamstime.com Business | August 18, 2016

Fewer layoffs at Cisco

Cisco has - together with their fiscal 4Q - announced a restructuring plan.
[i]"Today, we announced a restructuring enabling us to optimize our cost base in lower growth areas of our portfolio and further invest in key priority areas such as security, IoT, collaboration, next generation data center and cloud. We expect to reinvest substantially all of the cost savings from these actions back into these businesses and will continue to aggressively invest to focus on our areas of future growth."

The restructuring will affect 5'500 worldwide positions (approx. 7 percent of the total workforce); considerably less than what was rumoured. However, measures will be introduced immediately it seems.
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