Cisco Announces Plans To Lay Off 4,000 Workers
The news comes as the company reported earnings for last quarter. It earned $2.23 billion at $0.42 per share. Revenue was $12.42 billion, up 6 percent year over year, right in line with expectations.
The stock is tanking in after-hours trading. It's currently down about 10 above.
(Pictured is Cisco CEO John Chambers.)