Cisco Systems

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Japan, China, other locations
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
4,000 jobs
Number of planned job losses
Job loss
Announcement Date
14 August 2013
Employment effect (start)
15 August 2013
Foreseen end date

Description

On 14 August 2013, IT company Cisco Systems announced its plan to cut 4,000 positions. According to the company these job reduction measures have become necessary due to weak demand for its products in Asia and Europe.

The job cuts, which represent 5 pc of the company’s global workforce, will be carried out in Japan, China and Europe.

The timeline for the restructuring plan is not yet available.

The company, which designs and sells networking equipment, currently, employs more than 66,000 staff worldwide. Cicso Systems previously reduced its workforce substantially in 2011.

Sources

  • 15 August 2013: CNBC
  • 14 August 2013: Huffington Post

Citation

Eurofound (2013), Cisco Systems, Internal restructuring in World, factsheet number 75782, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75782.