Cisco to cut 6000 jobs after posting an annual revenue decrease

Cisco to cut 6000 jobs after posting an annual revenue decrease   Cisco revenue decreased 3% to $47.1 billion (£28.2 billion, AU$50.6 billion) during fiscal 2014 compared with fiscal 2013, the company said. Net income also decreased this year, from $9.98 billion (£5.98 billion, AU$10.73 billion) to $7.85 billion (£4.70 billion, AU$8.44 billion).The San Jose, Calif.-based company will cut 6000 jobs in the coming months, as it attempts to reorganize its engineering team. Cisco employs approximately 70,000 globally. "This will be a reallocation of resources," said Cisco CEO John Chambers on an earnings call. Read more >