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Cisco to cut 4,000 jobs despite strong profits
Source: BBC
14 August 2013 Last updated at 22:19 GMT
Cisco to cut 4,000 jobs despite strong profits
Network equipment giant Cisco Systems has announced plans to lay off 4,000 workers, about 5% of its workforce.
The news came after it reported net income of $2.3bn (£1.5bn) in the fourth quarter, up from $1.9bn a year earlier.
Cisco's chief executive John Chambers said that "the economic recovery is slower and more inconsistent".
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Cisco to cut 4,000 jobs despite strong profits
Network equipment giant Cisco Systems has announced plans to lay off 4,000 workers, about 5% of its workforce.
The news came after it reported net income of $2.3bn (£1.5bn) in the fourth quarter, up from $1.9bn a year earlier.
Cisco's chief executive John Chambers said that "the economic recovery is slower and more inconsistent".
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Read more: http://www.bbc.co.uk/news/business-23702264
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