Money | Cisco Cisco Slashing 1.3K Jobs Tech company shares down 11% this year By Evann Gastaldo Posted Jul 24, 2012 2:40 AM CDT Copied This Feb. 3, 2009 file photo, shows the Cisco Systems logo at Cisco Systems headquarters in San Jose, Calif. (AP Photo/Paul Sakuma, File) As Cisco Systems continues to struggle, the computer-networking equipment maker plans to cut 2% of its workforce—around 1,300 jobs. Profits are down and shares fell 11% this year thanks in part to Europe's financial crisis and slower spending by corporate customers, Bloomberg notes. And an analyst says more cuts are likely. Last year, Cisco slashed 6,500 jobs and shuttered its Flip video camera unit. Read These Next Mid Cops: Arizona 5th graders drew up plot to 'end' a classmate. The DOJ just fired 3 prosecutors tied to Capitol riot criminal cases. This is why your cat loves sleeping on its left side. Report an error