Network equipment maker Cisco Systems Inc is cutting 4,000 jobs, or 5 percent of its workforce, as it makes a fresh attempt to reduce costs and refocus on growth areas as it faces uncertain demand for its networking equipment, Reuters reported.

Chambers said that means cutting some staff, and moving others on to areas growing the quickest, such as datacenters, cloud computing, mobile and software markets. His commentary on the global corporate IT environment is closely watched by investors, as Cisco is regarded a strong indicator of the general health of the technology industry because of its broad customer base.