Cisco facing job cuts

The world’s biggest name in networking equipment is about to cut its workforce.

Cisco Systems is cutting ten thousand jobs in try to bring back profit growth.

The number represents roughly 14% of its overall workforce.

To keep profits up, 7,000 jobs would go by the end of August, with another 3,000 staffers receiving early-retirement packages for accepting buyout offers.

The move would be one of the largest corporate layoffs in recent memory.