Technology is putting Americans out of work at a record pace. According to a new report, at the same time, fiscal fourth-quarter earnings beat on Wednesday, Cisco (CSCO), the world’s largest networking giant, said it was cutting 5,500 jobs or 7% of its global workforce. Mark Haranas, of tech news website CRN, Opens a New Window. , which earlier in the day
reported Cisco would eliminate potentially as many as 14,000 jobs, told FOXBusiness.com the tech industry is cutting the dead weight. “The jobs cuts are necessary to shed some staff to bring on new employees with the skillset needed in today’s market. The networking skills needed in 2016 is drastically different from the skills that were needed just five years ago in 2011,” he said. CONTINUE
