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Cisco cuts raise doubts over Reading expansion

The UK?s biggest-ever out-of-town office deal could be in danger of unravelling after US computer giant Cisco Systems announced job losses.

By Graham Parker | Updated on April 24, 2001

The UK’s biggest-ever out-of-town office deal could be in danger of unravelling after US computer giant Cisco Systems announced job losses.

Cisco plans to shed 8,500 jobs worldwide in response to an expected 30 per cent fall in third-quarter revenues. And its planned European headquarters at Green Park in Reading, Berkshire could be a victim of the cuts.

John Chambers, president and CEO, cited the US and Europe as the areas where its markets were showing weakness, and he said that to cut costs the company would consolidate the facilities it occupies.

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