The gradual move to fast-growing sectors such as security, the Internet of Things and the cloud is a response to sluggish demand for Cisco's traditional lineup of switches and routers from telecom carriers and enterprise customers, amid intense competition from companies such as Huawei and Juniper Networks Inc.
San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, the report said, as the company transition from its hardware roots into a software-centric organization.
Worldwide IT spending is expected to fall slightly this year to USD 3.49 trillion, as the strong US dollar continues to take its toll, the firm said on Thursday.
Texas-based Commil USA sued Cisco in 2007, shortly after buying the patent from an Israeli company, Commil Ltd, according to court documents. Cisco has called it a non-practicing entity, referring to a company that primarily makes money by licensing patents instead of making products.
The investigators from Cisco's Talos security unit were looking at the Angler Exploit Kit, which analysts at several companies say has been the most effective of several kits at capturing control of personal computers in the past year, infecting up to 40 percent of those it targeted.
BlackBerry's fiscal first quarter results in June benefited from this strategy of monetizing its intellectual property, with software and licensing revenue rising more than 150 percent to USD 137 million.
Cisco has been buying a number of security companies, which has made its relatively tiny security business one of its fastest growing areas in the past two years.
The company reported revenue of USD 11.2 billion in its second fiscal quarter, down from USD 12.1 billion a year earlier. Wall Street on average expected Cisco to report of USD 11.03 billion, according to Thomson Reuters I/B/E/S.
Cisco warned on November 13 that revenue would decline as much as 10 percent in its second fiscal quarter ended in January and that it would not resume growth for several quarters.
The S&P 500 rose 0.8 percent for the week, scoring a weekly gain for the first time since early January. The benchmark index closed above its 14-day moving average on Friday, the first time it traded above that level since January 23.
Market strategists and tech experts say the comparison is overblown. While there is the potential for a decline in some Web company stock prices that are out of line with their earnings outlook, they say there is little chance of a bloody retreat.
BlackBerry, based in Waterloo, Ontario, once dominated the smartphone market but put itself up for sale after being overtake by Apple's iPhone and devices using Google Inc's Android operating system.
Cisco Systems Inc said it will buy software maker Sourcefire Inc for about USD 2.7 billion to increase its network security services.
TiVo Inc countersued Cisco Systems Inc in a court over alleged infringement of four patents relating to digital video recorder (DVR) technology, days after
IBM is taking aim at competitors such as Hewlett Packard Co and Oracle Corp with PureSystems, a new product line that helps companies reduce time and money spent on increasingly complex information technology maintenance.
Networking equipment company, Cisco Systems Inc, could eliminate as many as 10,000 jobs, or about 14% of its workforce, to revive profit growth, Bloomberg said, citing two people familiar with the matter.
Cisco Systems Inc will streamline its sales, services, and engineering organizations and refocus around five growth markets, in a significant restructuring at a company which had admitted it lost its way.
Cisco Systems Inc will dump its Flip video camera division, retiring the popular brand in a first step toward reviving a company its CEO John Chambers admitted has lost its way.
Cisco Systems Inc said on Tuesday it plans to buy privately held software company newScale Inc, in a deal that would ramp up its cloud computing services.
For years, the question at Cisco Systems Inc was what to buy next, expanding from routers and switches into consumer electronics in an effort to keep its revenue rising by double digits.
After disappointing Wall Street quarter after quarter, Cisco Systems Inc may be losing its status as a tech industry bellwether.