Tags: cisco | jobs | reduce | costs

Cisco Cutting 1,300 More Jobs to Reduce Costs

Monday, 23 July 2012 04:01 PM

Cisco Systems Inc. said it’s eliminating about 1,300 jobs, or 2 percent of the workforce, part of an effort to eliminate costs and streamline decision making.

“We routinely review our business to determine where we need to align investment based on growth opportunities,” San Jose, California-based Cisco said Monday in an e-mailed statement. “Additionally, we continue to evaluate our organizational structure as part of our plan to drive simplicity, speed of decisions and agility across Cisco.”

The cuts follow last year’s decision to eliminate about 6,500 jobs, or 9 percent of the full-time workforce, to help trim $1 billion in annual costs and step up profit growth. Cisco Chief Executive Officer John Chambers has been eliminating jobs and abandoning less-profitable businesses to reverse a sales-growth slowdown and stem market-share losses to rivals including Juniper Networks Inc.

© Copyright 2018 Bloomberg News. All rights reserved.

1Like our page
Monday, 23 July 2012 04:01 PM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved