Cisco cutting 5,500 jobs globally
August 18
12:50
2016
Cisco Systems has announced that it will be cutting nearly 7% of its 70,000 workforce, the company is trying recasting itself as a provider of software-based systems and services.
Cisco currently employs 300 people here in Ireland.The gradual move to fast-growing sectors such as security, the Internet of Things and the cloud is a response to sluggish demand for Cisco’s traditional line-up of switches and routers from telecom carriers and enterprise customers, amid intense competition from companies such as Huawei and Juniper Networks.
Cisco’s chief executive Chuck Robbins said “We need to make some pretty immediate shifts in our portfolio, we have rapidly shifting customer expectations. The winners in the future will be the ones that understand those dynamics.”
The company last announced a large round of firings in August 2014, when it eliminated 6,000 positions. Cisco’s workforce is down from the 75,000 it employed in 2013.
