Despite growth, Cisco to lay off five percent of workforce

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Cisco CEO John Chambers plans to axe five percent of the company’s entire workforce, with the 4,000 layoffs beginning in 2014.

Although Cisco has grown, Chambers said it was “not growing as fast as we need,” adding that the company had to dedicate its work to growth areas, quickly.

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Story added 16. August 2013, content source with full text you can find at link above.