Cisco Systems to eliminate 1,300 jobs

25 Jul 2012

Cisco Systems yesterday said that it is eliminating around 1,300 employees, a year after it laid off 6,500 workers as part of $1-billion annual cost cutting programme.

The latest round of job cuts represents about 2 per cent of Cisco's global workforce strength of 65,233.

The San Jose, California-based Cisco,  the world's largest computer networking equipment maker, did not reveal where the cuts would be made.

"We are performing a focused set of limited restructurings that will collectively impact approximately 2 per cent of our global employee population," said Cisco spokesperson Kristin Carvell.

She added that the layoffs "are part of a continuous process of simplifying the company, as well as assessing the economic environment in certain parts of the world."

Cisco CEO John Chambers, who is credited with building the company into a tech giant in the past 16 years mainly through aggressive acquisitions and launching new businesses, said the company may have to adjust to the changing global economic conditions as customers were vary of making big-ticket purchases due to the economic crisis in Europe and other parts of the world, including India.