Cisco today eliminated roughly 700 positions as part of a minor restructuring that it announced back in February. That’s on top of the 760 employees the networking company shed in the first three months of the year due to “employee attrition and a hiring pause.” Cisco claims it has no plans to make major layoffs going forward, something CEO John Chambers defined as 10 percent of the company’s workforce. One Cisco staffer told us:
They’re doing these small cuts so people don’t notice. It makes it look better if they say they’re ‘restructuring’ and ‘reallocating’. From the inside, I wouldn’t call it transparent or restructuring.
We hear today’s cuts were fairly spread out inside the company and that laid-off employees will stay on at Cisco for another two months to finish up projects and then get four months of severance.
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