According to BizJournals, Cisco Systems Inc. plans to cut about 5% of its staff — about 4,165 employees — and shrink its real estate, the networking giant announced Wednesday.
The San Jose-based company is undertaking a “limited” restructuring, spokeswoman Robyn Blum said in an emailed statement. Despite the job cuts, Cisco has open positions and expects its workforce to be about the same size at the end of its fiscal year as it was at the beginning of it, she said. The company employed 83,300 full-time workers at the end of July at the close of its last fiscal year, according to its annual report.
“This decision was not taken lightly, and we will do all we can to offer support to those impacted,” Blum said in the statement.
Blum did not immediately respond to questions about where Cisco plans to cut jobs or shrink its real estate.