To pursue their attempt to simplify as the market continues to offer more competitors, Cisco Systems Inc. chose to lay off 9% of their work force globally.
Cisco Systems Inc.,is recognized worldwide to be the largest creator of computer-networking equipment.
Aside from their goal of reducing costs by cutting down the number of their workers, Cisco is also moving strategically in order to gain focus as they recognized the earlier criticisms that they had been very competitive to wide market. At present, Cisco is having market competition versus Juniper Networks and Hewlett-Packard Co., to name a few.
Cisco, based on the report published from bbc.com, had 73,000 employees worldwide and it was announced that approximately, their will be 6,500 workers coming from the different parts of the globe that will soon be losing their jobs.
As part of the announcement made on Monday, it was mentioned that the list of the lay-off workers coming from U.S and Canada and some other countries will be aired on the first week of August, while the rest will be determined after due process.
Lay-off will not be the only way for Cisco to cut down the number of their employees, for there are also plans for the imposition of early retirement.
In addition, as result to the decision of killing their Flip video camcorder business, 500 workers lost their job earlier this year.
Many factors had been affecting the decision of Cisco System Inc. The previous global economic recession had also brought changes to their continued progress and stability. They may had recovered after that recession but they suffered freeze in their business.
Coming from the news spreading way back May, Cisco had been eyeing already of cutting down their workforce but no definite number was being mentioned. Although, there were forecast that the number of employees will run between 4,000 to 5,000 however as the number was announced on Monday, it turned out that the digit is much higher to the expected 6%.
Just like any other business, Cisco is implementing major steps for survival and growth for the business.