Cisco confirms layoffs
Networking giant cuts 2% of global workforce
Cisco is in the midst of another round of layoffs, as the networking giant looks to trim expenses as a means of increasing its bottom line.
"We routinely review our business to determine where we need to align investment based on growth opportunities," said a Cisco spokesperson in a statement.
"As we focus on both of these efforts, we are performing a focused set of limited restructurings that will collectively impact approximately 2% of our global employee population. These actions, subject to local legal requirements, including consultation where required, are part of a continuous process of simplifying the company, as well as assessing the economic environment in certain parts of the world."
The statement did not specify which Cisco business units are affected.
According to a report on Bloomberg, 2% of Cisco's workforce represents approximately 1,300 positions.
There has been wide speculation that Cisco is laying off 1,600 Wide Area Application Services (WAAS) engineers and sales team members.
Last year, Cisco cut its head count by approximately 6,500, mostly through layoffs and early retirement packages, as part of an effort to trim $1 billion in expenses.