Feeds

Cisco to axe 1,300 (more) employees worldwide

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

New hybrid storage solutions

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. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.