Like our Facebook Page Subscribe to LTG on YouTube RSS Feed Contact or Tip Us

Cisco Systems To Slash 1,300 Jobs

Radford C. Jul 23, 2012 0

Cisco Logo

Cisco is eliminating about 1,300 jobs as it continues to cut costs.

Cisco says that the cuts amount to about 2 percent of its global workforce. “These actions, subject to local legal requirements, including consultation where required, are part of a continuous process of simplifying the company, as well as assessing the economic environment in certain parts of the world,” Karen Tillman, vice president of corporate communication, told Wired.

Last year the world’s largest maker of computer networking equipment, had shed 10,000 workers.

Cisco warned that growing economic uncertainty was creating an environment in which it was becoming increasingly difficult to clinch business deals. Additionally, the company did not specify which operations will be trimmed in the latest job cuts. The latest cuts follow CEO John Chambers’s decision last year to to help trim $1 billion in annual costs and step up profit growth.

Chambers also shuttered the Flip video-camera unit, eliminated a council-based management structure that slowed decision-making, and reduced prices, aiming to refocus the company and gain ground against rivals such as Juniper Networks and Hewlett-Packard Co.

The shares fell 1.8 percent to $16.07 at the close in New York.

Via »Wired