Cisco is the latest big tech incumbent to announce major layoffs after poor results, just after Intel slashed its workforce by 15%, as Wireless Watch discussed last week. Rather like Intel, Cisco established dominance in one sector, in its case the IP routers and Ethernet switches that make up the internet and enterprise IT networks. Cisco, even more so than Intel or any other tech firm, was the poster child of the late 1990s dotcom boom and subsequent collapse. It’s market capitalization soared 1000-fold over that decade to $555 billion at the start of 1999, almost four times its current level. Yet Cisco has hung on better than Intel, which has been overtaken in market capitalization, if not revenue, by…