Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Cisco to cut 6 000 jobs in streamlining move

15 August 2014, 08:29

New York - US computer networking giant Cisco Systems said on Wednesday it plans to slash some 6 000 jobs, or 8% of its global workforce in the coming year.

Chair and chief executive John Chambers called the move a "limited restructuring" that will allow Cisco to "reinvest cost savings in key growth areas".

Chief financial officer Frank Calderoni said the move to streamline comes with Cisco moving "to continue to invest in growth, innovation and talents while managing costs".

The announcement came as Cisco announced a modest dip in quarterly profits at $2.2bn in the quarter to the end of July.

Revenues were down 0.5% at $12.4bn in the period.

"We are executing well in a tough environment," said Chambers in the earnings statement.

The cuts come a year after Cisco announced 4 000 reductions by the California tech giant in response to a weaker-than-expected global economic environment.

The latest move brings the total number of jobs cuts since 2011 at Cisco to 17 800.

Cisco has been expanding in the areas of cyber security and cloud computing, but its main activities of computer networks are sensitive to economic conditions.

Cisco is expected to take charges up to $700m for the restructuring, starting in its new fiscal year that began this month.



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Victor Tinto
Leave ODM if you are unhappy, Rai...

Leave ODM if you are not happy, Raila Odinga tells Senator. Read more...

Submitted by
Victor Tinto
Former Assistant Minister joins J...

A former Assistant Minister has quit PNU and joined the Jubilee Party. Read more...

Submitted by
Victor Tinto
DP Ruto intervenes as Kerio Valle...

DP William Ruto will visit Kerio Valley to try solve never-ending clashes between local residents. Read more...

Submitted by
Wilson Ochieng
ODM MP chased down by angry Kibra...

Kibra MP Ken Okoth had a hard time in his constituency after angry youth pelted him with stones. Read more...

Submitted by
Wilson Ochieng
Prepare for DP Ruto fight in 2022...

An MP has warned that the Kalenjin Community will not stand back and watch as DP Ruto is duped ahead of the 2022 polls. Read more...

Submitted by
William Korir
Be careful who you deal with, DP ...

Watch out for your political future, DP William Ruto has been warned. Read more...