Money | Cisco Cisco Slashing 1.3K Jobs Tech company shares down 11% this year By Evann Gastaldo Posted Jul 24, 2012 2:40 AM CDT Copied This Feb. 3, 2009 file photo, shows the Cisco Systems logo at Cisco Systems headquarters in San Jose, Calif. (AP Photo/Paul Sakuma, File) As Cisco Systems continues to struggle, the computer-networking equipment maker plans to cut 2% of its workforce—around 1,300 jobs. Profits are down and shares fell 11% this year thanks in part to Europe's financial crisis and slower spending by corporate customers, Bloomberg notes. And an analyst says more cuts are likely. Last year, Cisco slashed 6,500 jobs and shuttered its Flip video camera unit. Read These Next New Fox star, 23, misses first day after car troubles. Iran's supreme leader makes first public comments since ceasefire. Man accused of killing his daughters might be dead. Her blood isn't compatible with anyone else's. Report an error