Thousands of employees at Cisco to lose jobs in latest cuts
Up to 6,000 positions are to be cut as the company continues its efforts to reposition itself in new markets amid tough conditions, particularly in the developing world.
When contacted by this newspaper, a spokesperson for Cisco confirmed that the job cuts will affect up to 8% of its global workforce of 74,000 but was unable to confirm or deny whether its Irish workforce would be affected.
“As announced on our August 13 earnings call, Cisco is conducting a limited restructuring across several segments of our business that will impact up to 6,000 roles or 8% of our global workforce. We are unable to release numbers by region or country at this time,” the spokesperson said.
The latest round of cuts brings the total number of job losses at the company — which is believed to employ more than 200 staff in Ireland — to 18,000 in the last three years.
The company’s restructuring has seen it move from its traditional business as the world’s biggest network equipment maker to a strategy more focused on data centre and cloud computing software.
“Technology disruption has never moved more quickly, requiring all companies to adapt and accelerate through change. We are taking action now to build for the future of cloud, security, virtualisation, analytics, data centre, IoE (Internet of Everything) and collaboration,” a statement from the company read.
“We will continue to invest in growth, innovation, and talent, while managing costs and improving efficiencies across our business,” it continued.
Despite the spate of job cuts in recent years, Cisco’s global workforce has risen by around 3,000 as it continues to move beyond its core routing and switching business.
Cisco was also able to report better than expected revenues of $12.4bn (€9.27bn) for the second quarter of the year in spite of its difficulties.
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