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Enterprise technology firm Cisco announced plans to cut an additional 1,100 jobs, after announcing cuts of 5,500 last August, reports CNBC.

The cuts come as the company reported worse-than-expected forward guidance, despite surprisingly strong earnings for the fiscal third quarter. Shares fell more than 5% in after-hours trading Wednesday.

Cisco expects a revenue drop of 4-6% year over year in the fourth quarter, with 60 to 62 cents of earnings per share.

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