Cisco to Cut About 1300 Jobs
Mon Jul 23, 2012 4:29pm EDT
(Reuters) – Network equipment maker Cisco Systems said on Monday 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.
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 August 15.