Cisco to cut about 1,300 jobs

Mon Jul 23, 2012 4:29pm EDT

A security guard walks past a Cisco display at the Mobile Asia Expo in Shanghai June 20, 2012. The three-day exhibition opens for the first time in mainland China, to showcase the latest in mobile technology. REUTERS/Aly Song

A security guard walks past a Cisco display at the Mobile Asia Expo in Shanghai June 20, 2012. The three-day exhibition opens for the first time in mainland China, to showcase the latest in mobile technology.

Credit: Reuters/Aly Song

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(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.

(Reporting by Nicola Leske in New York; Editing by Dale Hudson)

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Comments (1)
Willie12345 wrote:
Our “Recovery Summer” just gets better and better. Thanks, Joe !

Jul 23, 2012 4:56pm EDT  --  Report as abuse
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