Cisco to cut another 6,000 jobs
There is no confirmation so far how this will affect the UAE
Cisco Systems has reportedly said it plans to cut another 6,000 jobs, according to Reuters.
The latest round of layoffs is at least the third workforce reduction in about as many years for the company which has lately struggled to sustain growth.
The company announced in August 2013 that it would cut 4,000 jobs. And in 2011, it said it planned to reduce its workforce by more than 11,000.
Cisco said in a statement to ITP.net: "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 up to 8% of our global workforce.
"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 center, IoE and collaboration.
"We will continue to invest in growth, innovation, and talent, while managing costs and improving efficiencies across our business. We are continuing to hire, especially in the areas that help our customers solve their biggest business problems."
Chief Executive Officer John Chambers said: "Unfortunately, as we look out, we don't see emerging markets growth returning for several quarters and believe it could get worse."
Total product orders rose 1%, with 2% growth in both the Americas and Europe, the Middle East and Africa, offset by a 7% decline in Asia and Pacific.
There has been no information so far as to how these job cuts will affect the region.