Ron Burgundy Posted August 15, 2013 Share Posted August 15, 2013 By Bill Rigby (Reuters) - Network equipment maker Cisco Systems Inc is cutting 4,000 jobs, or 5 percent of its workforce, as it makes a fresh attempt to reduce costs and refocus on growth areas in the face of uncertain demand for its networking equipment. Shares of the world's biggest network equipment maker fell more than 9 percent after hours, their biggest drop in more than a year if reflected on Nasdaq on Thursday. A lukewarm revenue forecast dashed expectations that Cisco could overcome muted demand for tech infrastructure. Its shares had been up more than 50 percent in the past 12 ... View the full article Quote Link to comment Share on other sites More sharing options...
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