News & Analysis
Cisco to cut 1,300 jobs
7/23/2012 5:24 PM EDT
SAN FRANCISCO—Networking giants Cisco Systems Inc. said Monday (July 23) it plans to cut about 1,300 more jobs in connection with ongoing restructuring at the company, according to reports.
In an emailed statement, Cisco said the job cuts would impact about 2 percent of the company's global work force, according to a report by the Reuters news service. Citing the company's web site, the Reuters report said that Cisco had about 65,223 employees at the end of its fiscal third quarter.
Last July, Cisco cut about 6,500 jobs as part of a restructuring plan intended to help the company reduce about $1 billion in annual costs.
In an emailed statement, Cisco said the job cuts would impact about 2 percent of the company's global work force, according to a report by the Reuters news service. Citing the company's web site, the Reuters report said that Cisco had about 65,223 employees at the end of its fiscal third quarter.
Last July, Cisco cut about 6,500 jobs as part of a restructuring plan intended to help the company reduce about $1 billion in annual costs.
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eewiz
7/23/2012 10:40 PM EDT
This is the 2nd layoff in last one year. Their numbers doesnt look any bad to me . http://www.google.com/finance?q=NASDAQ:CSCO&fstype=ii . so i am wondering why this layoff now?
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goafrit
7/24/2012 9:11 AM EDT
The problem is Huawei. They are eating Cisco life across emerging markets.
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rick.merritt
7/24/2012 12:43 PM EDT
...and ZTE
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docdivakar
7/25/2012 2:36 PM EDT
And Arista...
MP Divakar
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Robotics Developer
7/24/2012 1:28 PM EDT
I wonder where the cuts are being made? That would be interesting and could provide insight as to why they are cutting. I have to wonder if the economy is somehow also to blame or is it just market competition and other comments indicate?
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