Cisco Systems plans to cut an additional 1,100 jobs, the networking giant said today. The layoff figure is in addition to 5,500 job cuts that Cisco announced in August 2016.
The latest Cisco layoffs come amid IT spending weakness in the government and services provider sectors, the company indicated during an earnings call today. Cisco’s total Q3 revenues were $11.9 billion, down about 1 percent from Q3 last year. Also, the company forecast a revenue dip of 4 percent to 6 percent in Q4 2017 vs. Q4 2016.
Still, there were some bright spots. Chief among them: Cisco's security revenues rose 9 percent during the quarter, CEO Chuck Robbins indicated.
Cisco and each of its key rivals -- Dell EMC, HP Enterprise, IBM, Oracle -- have announced some job cuts over the past year amid the continued IT market shift from traditional hardware and software sales toward subscription services, software-defined and cloud technologies.
