Cisco Laying Off 500 SF Bay Area Employees

MILPITAS, CA -- Cisco Systems is laying off 5,500 jobs globally, with nearly 500 consisting of San Francisco Bay Area employees -- 405 at its San Jose headquarters and 57 in Milpitas, the company's Twitter feed reads.

"Over the last several years, we have been transforming Cisco to deliver even greater value to our customers. We continue to make decisions to ensure that our investments and resources are aligned with strategic growth areas of the business,"company spokeswoman Robyn Jenkins Blum said.

Despite staff reductions, the tech networking giant announced in August during its quarterly report period ending July 28 revenue of $12.8 billion in what Chief Executive Officer Chuck Robbins described through the Globe Newswire a record-setting crescendo ending the fiscal year.

"We had a very strong finish to a great year and generated our highest quarterly revenue of $12.8 billion . Our results demonstrate a combination of strong customer adoption of our latest innovations, the ongoing value customers see in our software and subscription offerings and excellent execuation across our customer segments and geographies," Robbins said.

The next quarterly earnings report will be released on Wednesday afternoon.

Cisco Systems, Inc. is a large advanced technology company with the main office located in San Jose. The company designs, makes and sells networking equipment and software. The company specializes in networking management software, storage area networks and other datacenter products.

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