Cisco Slashes Jobs To “Simplify” The Company

In a sign of the times, networking equipment leader Cisco Systems, Inc. (NASDAQ:CSCO) has resorted to a cut in its workforce by almost 2 percent, which is approximately 1,300 jobs. The result of slowing enterprise spending and the European sovereign debt crisis, the move shows how the company is fighting drooping sales and falling order quantities from the bigger corporates. Though the company claimed that the cuts were a means to simplify the company, analysts view the action as simply not enough, and point to the need for growing gross margins and better growth in sales, as priorities to focus on…