Networking hardware giant Cisco Systems announced that it’s laying off 5,500 employees in the first quarter of 2017. The move will see the company lose about 7 percent of its global workforce. Cisco isn’t in financial trouble: Its fourth quarter and fiscal year 2016 earnings report showed that it increased revenues by 2 percent year-on-year to $12.6 billion. However, it’s keen to prioritize its efforts in domains like security, IoT, collaboration, data centers and cloud services. Reuters noted that CEO Chuck Robbins, who completed a year at the company just last month, has been focusing Cisco’s energy towards more software…
This story continues at The Next Web