Cisco plans more staff layoffs

Cisco Systems, Inc, the world’s biggest networking gear maker, said on Wednesday it will extend a restructuring plan to lay off another 1,100 employees. The technology giant, headquartered in San Jose, northern California, announced the restructuring plan in August last year to reinvest in “key priority areas” which included dismissing up to 5,500 employees, or 7 percent its workforce. The extended plan was revealed in Cisco’s quarterly earnings report released on Wednesday, with the group saying that the additional workforce reduction would be completed in 2018. The company reported revenue of $11.9 billion in the threemonth period, a decline of 1 percent over the same period of last year.