Cisco Systems to Eliminate Up to 2,000 Jobs

Cisco Systems has begun cutting jobs as part of a restructuring that the tech giant said could involve the elimination of up to 2,000 positions.

The maker of networking equipment did not disclose the specific number of layoffs, but a spokesperson said about 250 employees at the San Jose, California HQ were affected.

Earlier this month the company said it could cut 1,500 to 2,000 jobs as part of a restructuring, but stressed that it didn’t expect a broad work-force reduction.

Cisco Systems is a multinational corporation with more than 66,000 employees and annual revenues of $39 billion as of 2008. It designs and sells networking and communications technology and services.