SAN JOSE, CA - AUGUST 10:  A sign is posted in front of the Cisco Systems headquarters on August 10, 2011 in San Jose, California.  Cisco Systems reported better-than-expected fourth quarter revenues with a 3.3 percent rise to $11.2 billion as the company continues to scale down its business. (Photo by Justin Sullivan/Getty Images) We caught wind earlier this week that Cisco was planning a major cost-cutting operation to reduce its costs by around 15% throughout the month. It looks like the first stage of that is a round of cut jobs, with Cisco announcing as part of its earnings report that it will cut up to 5,500 jobs, or 7% of its workforce. The move isn’t unexpected as Cisco works to transition to a new era where… Read More

Source: News