7. Cisco Systems

Job cuts: 4,500

Number of employees: 75,049

In March this year Cisco, the San Jose, California based networking conglomerate, chopped off 500 employees from its workforce and claimed that it was part of a minor restructuring in its data center businesses. And the conglomerate didn’t stop there. A disappointing quarter meant that nearly 4000 employees were compelled to wash their hands off the job at the firm. And in a matter of two years, the company had cut short its workforce by about 12,300 employees, which is shocking.

As per Bloomberg, increased commoditized of networking products and little or no change in its core offerings, coupled with the rapid advancements in cloud computing have crippled Cisco’s profits, and this has resulted in aggressive cost cuttings.

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