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Cisco Systems announced Wednesday it will eliminate about 4,000 jobs, saying it needs to pare down middle management to speed up decision-making and execution.

The company didn’t say when or in what regions the cuts would take place, but it expects to incur related costs of about $ 550 million. About $ 250 million to $ 300 million of those costs will be taken in the first quarter of the company’s 2014 fiscal year, which began July 28.

The Industry Standard – Infoworld

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