Cisco snips 700 more of its staff

The majority of the cuts, reported earlier by The Wall Street Journal, were made at Cisco’s San Jose headquarters Thursday, adding to the 447 California workers Cisco had already laid off since the end of February, according to notices filed with the state.

As of the end of April, Cisco employed about 66,560 people. The company would not say how many people it has laid off outside of California.

Some workers may find new jobs at the company. The rest will be offered severance packages and help finding other work.

The company said in February that it planned to cut 1,500 to 2,000 jobs “in the near term.” Cisco has also stopped hiring for most jobs as part of a plan to save $1 billion in the 2009 fiscal year, which ends in late July.

In February, CEO John Chambers told analysts that “the odds are reasonable” that Cisco’s cost-cutting and layoff plans would be enough to head off even deeper job losses.

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