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July 17, 2009
Cisco Systems Inc. laid off several hundred employees on Thursday, as part of the company's plan to control its costs amid declining sales.
Between 600 and 700 people were laid off at the company's San Jose headquarters, according to a person familiar with the decision. The company also cut jobs in branch offices elsewhere in the U.S., said people familiar with the matter. The total number of jobs eliminated wasn't immediately clear.
"We are doing everything possible to minimize the impact on employees affected by the limited restructuring," a Cisco spokesman said.
In February, Cisco Chief Executive John Chambers said the networking giant would likely cut between 1,500 and 2,000 positions over the remainder of its fiscal year, which ends this month. The company also eliminated several hundred positions in February.
Cisco, which had 66,558 employees at the end of April, has reported back-to-back quarters of declining sales. In May, Mr. Chambers said that he saw signs that the worst of the recession was over, but added it could be a while before spending trends back up.
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