Shares of Cisco tumbled on Thursday making it TheStreet's Move of the Day. The network equipment maker said during its earnings conference call that 2015 restructuring would impact 6,000 employees jobs, or about 8% of its workforce. The announcement comes as the company says it is forecasting little increase in sales. CEO John Chambers told analysts on Thursday: "In terms of right now, it's the uncertainties in the market, you are seeing a few headwinds and a lot of tailwinds. ... And so you're right, it is the most difficult decision we make as an operating committee." TheStreet's Joe Deaux reports.

More from Video

The CEO of Wall Street Disruptor Symphony Reacts to Tuesday's Market Declines

The CEO of Wall Street Disruptor Symphony Reacts to Tuesday's Market Declines

60 Seconds: What is the Yield Curve and Why is it Screaming Recession?

60 Seconds: What is the Yield Curve and Why is it Screaming Recession?

Coke Has Figured Out How to Stay Relevant (Watch)

Coke Has Figured Out How to Stay Relevant (Watch)

Jim Cramer: If You're Afraid of the 10-Year Yield, Go to Cash

Jim Cramer: If You're Afraid of the 10-Year Yield, Go to Cash

Video: Jim Cramer on Rising Interest Rates, Trade Worries & Caterpillar

Video: Jim Cramer on Rising Interest Rates, Trade Worries & Caterpillar