Cisco to slash 1300 jobs amid cost cuts

Washington, July 24 (ANI): The world's largest networking hardware company Cisco has planned to slash nearly 1300 jobs, according to a report.

The move came as part of the company's ongoing austerity programme aimed at saving one billion dollars a year.

Cisco said the cuts were being implemented to simplify its operations and adjust to changing economic conditions around the world, the BBC reports.

The job cuts represent around two percent of Cisco Systems' 65,000 strong workforce.

According to the report, the firm warned that growing economic uncertainty was creating an environment in which it was becoming increasingly difficult to clinch business deals. (ANI)