Cisco to axe 6,500 employees in massive restructuring
Networking giant Cisco Systems plans to lay off 6,500 employees as part of a massive restructuring plan, the company announced Monday.
The layoffs, which are one of the largest single layoffs this year and appear to be the largest single cut Cisco has ever made, amount to about 9 percent of Cisco’s total work force and 15 percent of executives at the vice president level and above. About 2,100 of those employees elected to participate … Continue Reading
Home energy network provider iControl raises $50M
iControl, a provider of broadband home management software, said Monday it raised $50 million in its fourth round of funding. Investors in the latest round included Cisco Systems, Comcast Ventures, Intel Capital, Charles River Ventures, Kleiner Perkins Caufield & Byers, Rogers Communications and Tyco International.
The Palo Alto, Calif., company sells networking software that telecom and other companies can wrap into their larger home automation and energy management software. Broadband providers can then give homeowners … Continue Reading
