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Early retirement offers have been doled out and layoffs are being reported across geographies nearly two months after Cisco Systems announced a large-scale restructuring plan that would cut more than $1 billion in costs in the wake of financial fallout from the COVID-19 pandemic. 

A spokesperson for Cisco wouldn‘t confirm numbers, but told CRN that despite the employee restructure, the support structure for the company’s all-important channel won’t be changing. Approximately 85 percent of Cisco’s revenue going through partners today, Cisco said. 

“Over the coming weeks and months, Cisco will increase our investments in key business areas that will drive customer satisfaction and partner profitability going forward and reduce investments in others. We will be restructuring parts of our business as a result,“ a Cisco spokesperson said in a statement. ”Our employees are our priority and we are committed to providing our full support to those transitioning to new roles or teams within Cisco or leaving the company. Where possible, we will offer employees options that enable them to make decisions that best suit their career goals and personal circumstances.”

Read more here:

https://www.crn.com/news/networking/cisco-layoff-talk-builds-as-longtime-execs-accept-early-retirement-offers

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