Cisco Systems will cut as many as 6,000 jobs

image

 
Cisco Systems will cut as many as 6,000 jobs over the next 12 months, saying it needs to shift resources to growing businesses such as cloud, software and security.The move will be a reorganization rather than a net reduction, the company said. It needs to cut jobs because the product categories where it sees the strongest growth, such as security, require special skills, so it needs to make room for workers in those areas, it said.“If we don’t have the courage to change, if we don’t lead the change, we will be left behind,” Chairman and CEO John Chambers said on a conference call.Cisco has about 74,000 employees, so the cuts will affect about 8 percent of its staff. It will take charges of about US$700 million for the cost of the reorganization, up to half of that in the current quarter, Chief Financial Officer Frank Calderoni said.To read this article in full or to leave a comment, please click here   

By Jarrett Neil Ridlinghafer
Founder & CEO/CTO Synapsesynergygroup.com
CTO
GenRXhealth.com
HTML5Deck.com
Gmailtoolbox.com
Virtual-Data.center
Posted from WordPress for Android

Advertisements