Cisco to fire 1,100 More Workers

Vastavam web: Cisco, a global leader in networking service has decided to minimize its staff as the quarterly margins are likely to come down.  The company announced  it will cut an additional 1,100 employees as part of an expanded restructuring plan. The cuts come on top of the 5,500 job cuts, or 7 percent of its workforce, announced in August 2016, the enterprise technology company said. Cisco said it plans to recognize hundreds of millions of pretax charges related to the restructuring, which will end around the first quarter of the 2018 fiscal year. The announcement came as the company reported better-than-expected earnings for the fiscal third quarter, but worse-than-feared forward guidance. Shares fell more than 5 percent after hours.