Cisco Systems to Lay Off Up to 700 at California HQ

Cisco Systems will lay off 600 to 700 employees at its headquarters in San Jose, California headquarters. The firm warned in February that 2,000 jobs could be cut this year.

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.