Cisco to lay off 350 employees in Silicon Valley
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Tech giant Cisco Systems (NASDAQ:CSCO) will lay off 350 employees in Silicon Valley next month in the second round of job cuts this year.
The company will lay off 227 employees in San Jose and 123 workers in Milpitas by October 16, according to a filing with the California Employment Development Department.

Cisco (CSCO) had announced a restructuring plan late last year, under which it planned to lay off 5% of its workforce worldwide and optimize its real estate portfolio.
Last month, Cisco (CSCO) reported Q4 results that topped estimates but issued weak guidance for the coming fiscal year. Even so, Wall Street analysts lauded the fact that Cisco's (CSCO) order growth is improving.


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