Telecom Lead India: Cisco is planning to slash around
1,300 jobs.
Europe’s debt crisis and sluggish corporate spending are
prompting the networking giant to cut 2 percent of the workforce.
The cuts are part of a continuous process of simplifying
the company, as well as assessing the economic environment in certain parts of
the world.
In May, Cisco CEO John Chambers cited Europe’s debt
crisis, weak government spending and a drop in orders from large corporate
customers for a fourth-quarter profit forecast that was below analysts’
estimates.
Last year, Cisco announced its plan to eliminate about
6,500 jobs, or 9 percent of the full-time workforce, to trim $1 billion in
annual costs and step up profit growth.
As part of restructuring plan, Cisco also shuttered the
Flip video-camera unit, eliminated a council-based management structure that
slowed decision-making, and reduced prices, aiming to refocus the company and
gain ground against rivals such as Juniper Networks and HP, Bloomberg reported.
In May, Cisco reported a 1 percent decline in orders from
large corporate customers in the fiscal third quarter.
Cisco posted $1.96 billion revenue for Asia Pacific region
Cisco has posted $1.96 billion revenue for the
Asia-Pacific region, as compared to $1.5 billion for the Q3 FY11.
For the America region, the company posted $6.4 billion
revenue, against $6.2 billion for the Q3 FY11. Revenue for EMEA region stood at
$3.6 billion in the Q3 FY12, as compared to $3 billion for the Q3 FY11.
Cisco reported 7 percent y-o-y increase in Q3 fiscal 2012
sales at $11.6 billion against $10.9 billion in the same period previous year.
Cisco’s product sales stood at $9.1 billion in Q3 FY11, as compared to $8.6
billion a year earlier. Net sales from services segment stood at $2.4 billion
in Q3 FY12, against $2.1 billion a year ago.
