Cisco is laying off up to 6,000 of its employees

Networking hardware giant Cisco Systems is slimming down. Again. After another quarter of pallid growth, the company will cut up to 6,000 employees, or about 8 percent of its worldwide workforce in its current first fiscal 2015 quarter. The company forecast flat growth for the upcoming quarter. CEO John Chambers said the company will continue to invest in high-growth areas including cloud, software and security by re-allocating resources there and even make new hires as needed. SeekingAlpha has transcript of the earnings call.