Cisco begins new round of layoffs

• Cisco (NASDAQ:CSCO) has started a new round of job cuts as "part of an ongoing process of aligning our investments and resources to meet the evolving needs of our customers and partners," WSJ reports.
• The company, which has around 75,000 employees, declined to say how many people were affected or what roles they hold.
• Earlier this month, Cisco said it expects revenue to drop between 1.5% and 3.5% in its current quarter, on top of a 3.5% Y/Y drop in revenue for the company's fiscal second quarter, which ended Jan. 25.