Networking giant continues to cut costs
Cisco is to cut a further two per cent of its 65,000-strong global workforce as it continues to drive "simplicity and efficiency" across its business.
Last July, networking's big daddy announced it would shed 6,500 jobs and transfer a further 5,000 manufacturing staff to Foxconn in a bid to save $1bn annually. Some 2,100 of the cuts were staffers taking voluntary early retirement.
Although the shock therapy seemed to hit the mark as Cisco's results improved, chief executive John Chambers warned in Cisco's most recent quarterly results that the vendor is encountering a "hesitant spending environment" among larger customers.
Cisco didn't detail which parts of its business would be impacted by the latest round of 1,300 job cuts but said it was reacting to changing economic conditions around the world.
"We routinely review our business to determine where we need to align investment based on growth opportunities," Cisco stated.
"Additionally, we continue to evaluate our organisational structure as part of our plan to drive simplicity, speed of decisions and agility across Cisco."
The news, which pushed Cisco's share price down by two per cent, came as the vendor bagged unconditional EU approval for its $5bn acquisition of UK video software outfit NDS.
All eyes will be on Cisco's next quarterly results, which are due out on 15 August.
