Cisco sacks hundreds of employees to cut costs

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Cisco
Washington, Jul 17: Even though everyone wants to believe that the worst effects of the global economic slowdown has ended, more and more companies are continuing with layoffs. According to a news reports, Cisco has not gone ahead with hundreds of lay offs in order to cut costs.

The US computer networking giant has sacked about 600 and 700 employees at its headquarters in San Jose, California. There were more in the other branches, however the numbers are not clear yet.

"We are doing everything possible to minimize the impact on employees affected by the limited restructuring," a Cisco was quoted as saying in the Wall Street Journal.

Even though the company said that it was not doing good in Feb 2009, the company's chief executive John Chambers said in May 2009 that there were signs of revival.

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