Shrinking sales at Cisco Systems (CSCO) have caused the tech giant to bring out the knife.
The maker of Internet switches and routers disclosed plans this week to cut 6,000 workers in the coming months. That amounts to about 8% of its global workforce.
Cisco declined to reveal which specific businesses will be hit by the layoffs, saying it will "vary depending on the business need."
The company also said that it plans to use the cost savings to invest in its data center, software, cyber security and cloud services divisions.
Interestingly, the layoff moves failed to juice Cisco's stock price, which retreated over 2%, largely because the job cuts came alongside disappointing quarterly results.
