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Cisco systems to further lay off 1,100 employees: Report

Global networking giant Cisco has reportedly announced that it would extend its restructuring plan to lay off 1,100 more employees. Earlier, the company said the restructuring plan in August 2016 to reinvest in ‘key priority areas’ and part of it was to lay off up to 5,500 employees, or 7 percent of its workforce. The extended plan was discussed in Cisco's third Quarter Earnings report released on Wednesday with the completion of additional workforce reduction scheduled for the first quarter of fiscal 2018.

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