NEW YORK (Reuters) – Popular US manufacturer of network equipment Cisco Systems stated on Monday that it plans to cut about 1,300 jobs as part of the ongoing effort to restructure the company and evaluate the feasibility of various markets around the world.
“We are currently implementing a targeted set of limited restructuring plans that are expected to impact about 2% of our global employees,” the company said in an e-mailed statement.
These actions are part of an ongoing process to streamline the company and evaluate the economic environment in certain parts of the world, Cisco Systems explained in the email.
According to the Cisco Systems website, the company had 65,223 employees in its rosted as of the end of its third fiscal quarter.
Cisco began a plan to cut costs by approximately 1B US dollars last year, all in an effort to reduce unnecessary spending and increase company efficiency and productivity.
During that time, the company said it planned to cut about 15% of its global workforce, restructuring different departments in order to have leaner and more streamlined operations.
Cisco Systems is expected to publish a report on its fourth fiscal quarter come August 15th to provide a clear picture of the recent changes made in the company’s organizational structure.