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Here is a running recap of latest happenings in the IT Channel Industry. Cisco’s Layoff Move Likely To Impact Its India Operations Networking major Cisco Systems has reportedly announced the plans to layoff over 5000 employees. According to the media reports, Cisco is planning to lay off 5,500 employees, which account for nearly 7 percent of its workforce. The decision is likely to impact Cisco’s India operation, especially employees in its R&D center in the country. Read More AskMe Suspends Business; Lays off Employees Without Pay The consumer internet search platform...

The consumer internet search platform AskMe has reportedly suspended its operations, laying off nearly 4000 employees. The company said t have taken the decision because of severe cash crunch. According to some media reports, its primary investor, Astro Holdings defaulted on payments to sellers, own employees and other dues. The bills had amounted up to $15 Million from January 2016, and since Astro has 98.5 percent stake in AskMe, the company had to rely on just one source of income, Track.in reported. The Gurugram-based company’s e-commerce website is still live but is...