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â€œCiscoâ€ company starts reduction of employees

â€œCiscoâ€ company starts reduction of employees

12 May 2011 14:31 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Worldwide networking equipment manufacturer Cisco Systems company will reduce thousands of employees.

Reduction process is realized within the framework of special program on refusal from main sphere of activity, as well as non-profiled and non-bringing directions.

Plans of Cisco leadership include decrease of annual expenditures $1 billion or total cash flow up to 6%. Nearly 4-5 thousand people are expected to be reduced inside the company. Firstly, elder employees will be expelled.

Another issue is connected with sharp rivalry in networking market, fall of prices and less profit.

Note that, at present, 73,000 people work at Cisco Systems.

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