Cisco

Job cuts: 4,000

Number of employees: 4,500

Cisco, is an American multinational corporation which dominates the market for inter protocol based networking equipment. It gains revenues by selling its products primarily to large enterprises and telecommunications service providers.

However, the network equipment maker came out with a big announcement in August that it will be cutting down 4,000 jobs. This is 5 percent of its total workforce and will take effect in the first quarter of 2014.

The company also said that this decision was taken due to the uncertainties in the economy.

Educomp

Job cuts: 3,500

Educomp is a leading company in the educational sector which has come up with ‘Smartclass’ concept. ‘Smartclass’ is a teacher-led educational setup that provides a solution for improved learning outcomes in private schools.

The online education solutions provider came out with big announcement that it has laid of around 3,500 employees in the course of three months.

The company said that this decision was taken because it wants to lower its operational costs by approximately 20 percent over the last financial year.
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