Cisco has announced 6,000 job cuts after revealing revenues and net profits decreased in the last 12 months.
The US-based vendor has not outlined which geographical regions nor which business areas will be affected. It did say that the jobs cull, which amounts to eight percent of the workforce, would take place over the next 12 months.
Cisco has 74,042 full time employees in roughly 165 countries, but does not break out how many of them are based in Europe.
Principally, the workforce is made up of engineering posts (circa 39 percent), sales (24 percent) and services (20 percent).
A statement read: "Technology disruption has never moved more quickly, requiring all companies to adapt and accelerate through change. We are taking action now to build for the future.
"We will continue to invest in growth, innovation, and talent, while managing costs and improving efficiencies across our business. We are continuing to hire, especially in the areas that help our customers solve their biggest business problems.”
The news follows further job cuts in August 2013, when 4,000 people lost their jobs, and in 2011, when over 11,000 posts were culled.
Full-year revenues fell by three percent year-on-year to $47.1 billion (€35.2 billion) while net profits were down by 21.3 percent to $7.9 billion (€5.9 billion).
Cisco Chairman and CEO John Chambers commented: "We are executing well in a tough environment and delivered our best non-GAAP earnings per share quarter in our history. I'm pleased with how we are transforming our company over the past several years and that journey continues.
"We are focused on growth, innovation and talent, especially in the areas of security, data center, software, cloud and internet of everything. Our strategy is sound, our financials are strong, and our market leadership is secure."
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