Cisco Systems is cutting about 1,300 jobs, or 2 percent of its workforce. The cuts are part of a "continuous process of simplifying the company, as well as assessing the economic environment in certain parts of the world," the company said in a statement to Bloomberg. In May, the company gave a forecast below market expectations, due to Europe's debt crisis, weak government spending and a drop in orders from large corporate customers. The latest cuts follow a decision last year to eliminate about 6,500 jobs, or 9 percent of the full-time workforce, to help trim USD 1 billion in annual costs and step up profit growth. Cisco is scheduled to report results for its fiscal fourth quarter, which ends in July, on 15 August.
