Cisco sets off fire sale of Linksys, other poorly performing units

A month after Cisco's CEO said the company had lost credibility in the marketplace, it is shopping for a buyer for its Linksys home-networking sector that includes products such as routers, adapters, bridges, switches and network cameras, reports CRN.

According to the magazine, the sale could come as soon as next week, and its WebEx online conferencing and desktop-sharing business may be soon to follow.

The move is part of an estimated $1 billion in housecleaning that will continue over the next fiscal year, which may include terminating other poor-performing units and laying off between 3,000 and 5,000 workers.