Cisco to Lay Off Up to 6,000 Workers

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    NEWSLETTERS

    Bloomberg via Getty Images
    Cisco Systems Inc. signage is displayed outside of the company's headquarters in San Jose, California, U.S.

    Cisco says it will lay off up to 6,000 workers, or 8 percent of its workforce, as part of a restructuring.

    The company, which makes routers, switches and software, made the announcement during a conference call discussing its fiscal fourth-quarter earnings.

    The San Jose, California-based company reported a 1 percent decline in profit, to $2.25 billion, for the latest quarter.

    The company estimates pretax charges of up to $700 million, with about $250 to $350 million recorded in the current quarter, for the restructuring.

    Shares fell 28 cents, or 1.1 percent, to $24.92 in after-hours trading.