Network equipment manufacturer Cisco Systems has unveiled plans to cut about 1300 jobs or 2% of its workforce as part of strategy to restructure the company and cut cost.
The decision comes as part of the company’s effort to revive growth amidst growing economic uncertainty which was creating an environment in which it was becoming increasingly difficult to clinch business deals, reported BBC News.
Cisco corporate communications vice president Karen Tillman said the company routinely reviews its business to determine where they need to align investment based on growth opportunities.
"Additionally, we continue to evaluate our organizational structure as part of our plan to drive simplicity, speed of decisions and agility across Cisco," added Karen.
The company also added that the reductions are part of a continuous process of simplifying the operations, as well as assessing the economic environment in certain parts of the world.
Cisco has been embarking on a cost cutting programme and shedding off less-profitable businesses in a bid to focus on profit making segments.
In 2011, Cisco eliminated about 6,500 jobs or 9% of the full-time work force to reduce $1bn in annual costs and streamline decision making.
This May, Cisco revealed plans to discontinue its Android tablet development and announced there will be no further investment in the device, which was unveiled in 2010.
Cisco CEO John Chambers announced in early 2011 that the company would refocus on its five key markets in routers and switching, collaboration, datacentre virtualisation and video.
The networking hardware giant this month bought Virtuata to boost its cloud computing and data-center infrastructure.
