Reports: Cisco lays off up to 700 in Silicon Valley on Thursday

Cisco Systems Inc. is laying off up to 700 employees as part of its ongoing restructuring, according to reports Thursday.

The Wall Street Journal and Market Watch, citing sources familiar with the move, said the San Jose-based company's latest layoffs are part of a plan that was announced earlier to cut up to 2,000 positions worldwide.

The Wall Street Journal also reported that Cisco also cut some employees elsewhere in the country, but a total number wasn't available. At the end of April Cisco had 66,558 employees.