New Delhi : Networking solutions giant Cisco will lay off up to 6,000 employees globally, including India, after it reported a marginal decline in profits and revenues for the fourth quarter.
The reduction, which is about eight per cent of US-based firm’s global workforce, follows a similar move by the company last year when it announced plans to slash 4,000 jobs.
In India, Cisco employs over 10,000 people across cities like Bangalore, Delhi-NCR, Mumbai, Chennai, Kolkata, Pune and Hyderabad. Of these, 8,000 people are part of the R&D set up.
Stating that the company must focus on areas of growth to become the number one IT player, Cisco Chairman and CEO John Chambers said transforming Cisco requires “making some very tough decisions”.
Cisco expects to record charges of up to USD 700 million as in restructuring charges through fiscal year 2015. People in know of the development said that India will also be impacted by the lay-offs as Cisco has a sizable workforce in the region.