Feeds

Cisco to axe 1,300 (more) employees worldwide

Why? 'To drive simplicity, speed of decisions and agility'

3 Big data security analytics techniques

Networking megacorp and server wannabe Cisco Systems plans to lay off 1,300 workers – about 2 per cent of its global workforce.

The company did not immediately respond to our request for comment, but MarketWatch reports that head spokeswoman Karen Tillman downplayed the importance of the move in an emailed statement.

"We routinely review our business to determine where we need to align investment based on growth opportunities," Tillman wrote. "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, Tillman said, are actually "a focused set of limited restructurings," that "are part of a continuous process of simplifying the company."

One year and one week ago, Cisco announced that it would give pink slips to 4,400 employees, had reached early-retirement agreements with 2,100, and would sell a Mexican set-top box manufacturing plant with 5,000 workers to Foxconn.

A month after that announcement, the cuts reached the executive suite, with nearly one in five of its top execs taking the fall, along with 1,200 contract workers.

On Monday, the day when this latest job-cut announcement was made after the closing bell, Cisco's stock price had peaked at $16.15 on the NASDAQ exchange. At 5:30pm Eastern time, it had sunk to $15.84 in after-hours trading. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.