Cisco Systems will cut up to 5,500 employees from its 73,000-strong global workforce, the company announced Wednesday as part of its Q4 earnings report. The restructuring will allow further investment in key priority areas such as security, the Internet of Things, collaboration, next-generation data center and cloud, the company said, along with optimization of costs in lower-growth areas. Rumors had been circulating Tuesday that a much larger workforce reduction was in the offing — 9,000 to 14,000, according to reports.
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