Cisco to cut 1300 jobs as part of restructuring plans

Network equipment maker Cisco Systems has said that it plans to cut about 1,300 jobs as part of ongoing efforts to restructure the company.

hidden July 24, 2012 09:40:19 IST
Cisco to cut 1300 jobs as part of restructuring plans

Network equipment maker Cisco Systems has said that it plans to cut about 1,300 jobs as part of ongoing efforts to restructure the company.

"We are performing a focused set of limited restructurings that will collectively impact approximately 2 percent of our global employee population," the company said in an emailed statement.

Cisco to cut 1300 jobs as part of restructuring plans

The company said it was performing a series of 'limited restructuring': Reuters

These actions are part of a continuous process to simplify the company and assess the economic environment in certain parts of the world, it said.

Cisco had 65,223 employees at the end of its fiscal third quarter, according to its website.

Cisco last year started a plan to cut expenses by $1 billion in an effort to make the company leaner and more efficient.

At the time, it said it planned to cut 15 percent of its workforce.

Cisco is due to report on its fourth quarter on 15 August.

Reuters

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