Cisco Systems says it will lay off 5,500 employees as the internet gear maker scrambles to adapt to technology changes that have reduced demand for its main products.
The job cuts, 7 percent of its 78,000 workforce, were announced ahead of the company’s earnings call on Wednesday. An industry trade publication had reported Tuesday that the layoffs could be between 9,000 and 14,000.
Cicso last announced a major layoff in the summer of 2014, when it said it would trim 6,000 jobs from its workforce.
The company’s Research Triangle Park campus got off relatively lightly at that time. Just 225 jobs were cut locally, leaving it with 4,500 employees and well more than 1,000 contractors.
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The company also said at that time that it expected to fulfill its 2014 commitment to create 550 net new jobs in RTP over the next four years, which would enable it to capitalize on $12.9 million in state and local incentives.
A spokeswoman declined to comment whether there would be layoffs at its RTP facility this time around.
Cisco, which is based in San Jose, Calif., said the cuts would come from its slower growth businesses but didn’t provide details.
Cisco’s business has been hurt as more of its corporate customers rely on remote data centers for their computing needs instead of online networks maintained on their own premises.
The Associated Press contributed to this report.