Cisco confirms job cuts as restructuring continues

Vendor declines to reveal how many of its 75,000 employees will be affected

Cisco has confirmed a wave of job cuts as part of a restructuring that it expects to cost it $300m (£233.6m).

The vendor confirmed the cuts in a statement to the Wall Street Journal, but did not reveal how many of its 75,000 employees will be affected.

"This is part of an ongoing process of aligning our investments and resources to meet the evolving needs of our customers and partners," it said.

Cisco announced a restructuring plan when releasing its Q3 results earlier this month, which it said will "realign the organisation and enable further investment in key priority areas".

It said this plan will bring about costs of around $300m, including redundancy payments and "other one-time termination benefits".

In the same earnings release Cisco added that sales in its current quarter could fall by as much as three per cent, owing to a number of geopolitical issues.

The vendor also revealed a restructuring internally last year, which saw it merge its enterprise and datacentre networking units, and form a new cloud division.