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| Cisco to cut another 6,000 jobs as profits stagnate | |
| (35 minutes later) | |
| Network equipment giant Cisco Systems announces plans to cut 6,000 more jobs - its third jobs cull in three years. | |
| It began aggressively cutting its payroll in 2011, when it said it would shed 11,000 posts. Thousands more were cut last year. | |
| On Wednesday, Cisco it reported net income of $2.2bn (£1.3bn) in the fourth quarter, down from $2.3bn a year ago. | |
| Cisco's chief executive, John Chambers, said that the company was "executing well in a tough environment". | |
| He added that the company would manage costs "aggressively". | |
| The headcount reduction was partly due to uncertainty about emerging markets, Mr Chambers said. | The headcount reduction was partly due to uncertainty about emerging markets, Mr Chambers said. |
| "Unfortunately, as we look out, we don't see emerging markets' growth returning for several quarters and believe it could get worse," said Mr Chambers. | "Unfortunately, as we look out, we don't see emerging markets' growth returning for several quarters and believe it could get worse," said Mr Chambers. |
| In 2013 the company said it planned to cut 4,000 jobs, despite reporting strong profits. | In 2013 the company said it planned to cut 4,000 jobs, despite reporting strong profits. |
| Cisco announced 1,300 job cuts in 2012. | Cisco announced 1,300 job cuts in 2012. |