Cisco lays off 700 workers


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According to the Wall Street Journal, up to 700 workers were let go at the headquarters in San Jose and more jobs were cut from branch offices.

In February Cisco said it would likely cut up to 2,000 jobs in the fiscal year that ends this month -- as part of a re-structuring.

The company issued a statement Thursday saying "We are sensitive to the impact these decisions have on employees during this challenging economic environment."

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