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Tuesday, 24 July 2012 - Cisco to cut about 1,300 jobs |
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Credit: Reuters/Aly Song Mon Jul 23, 2012 4:29pm EDT (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) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) Willie12345 wrote:   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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