Cisco has confirmed a wave of job cuts as part of a restructuring that it expects to cost it $300 million.
The vendor confirmed the cuts in a statement to the Wall Street Journal, but did not reveal how many of its 75,000 employees will be affected.
“This is part of an ongoing process of aligning our investments and resources to meet the evolving needs of our customers and partners”, it said.
Cisco announced a restructuring plan when releasing its third quarter results earlier this month, which it said will “realign the organisation and enable further investment in key priority areas”.
It said this plan will bring about costs of around $300 million, including redundancy payments and “other one-time termination benefits”.
In the same earnings release Cisco added that sales in its current quarter could fall by as much as three percent, owing to a number of geopolitical problems.
The vendor also revealed a restructuring internally last year, which saw it merge its enterprise and datacentre networking units, and form a new cloud division.
