California-based Cisco Systems Inc., a technology company with operations in the Research Triangle Park, cut about 500 workers in a restructuring this week, according to an email from a company spokeswoman Thursday.
The company said in the emailed statement that the restructuring affected less than one percent of the company's workforce globally. The email said the cuts are subject to local legal requirements where required.
Karen Tillman, a spokeswoman for the company, said employees were notified on Tuesday.
"We routinely review our business to determine where we need to align investments based on growth opportunities," the emailed statement from Tillman said.
The move follows a two percent cut in the company's global workforce last year that meant a layoff of about 1,300 workers.
In 2011, the company announced a cut of about 6,500 workers from its global workforce. That included a cut of about 2,100 workers who agreed to participate in a voluntary early retirement program.
According to its annual report for the fiscal year that ended July 28 of last year, the company started a realignment effort of its sales, services and engineering organizations in fiscal year 2011 to simplify its business model and achieve other goals.
The company said the realignment was largely completed in fiscal year 2012.The initiative aimed to focus the company around leadership in its core business in routing, switching and associated services, in the area of data center virtualization and cloud and other areas.
Cisco reported in February that its net income in the second quarter of its fiscal year 2013 was up about 44 percent to $3.1 billion compared to the same period in the prior year. Its net sales were up 5 percent to $12.1 billion.
The company is based in San Jose, Calif., and has additional sites in and outside of the country, including in the Research Triangle Park.
It designs, manufactures, and sells Internet Protocol-based networking and other products related to communications and information technology industry.
Most Popular Stories
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Ohio State Band Chief Fired After Probe
- Stop-Start Engines Save Gas, Reduce Emissions
- Hispanic Leader Goes the Extra Mile
- Ukraine Says Russians Firing Across the Border
- Jennifer Lopez, Pitbull to Perform at Fashion Rocks
- Ricky Martin Joins 'The Voice ... Mexico'
- Ford Q2 Net Profit up 6 Percent
- U.S. Weighs Refugee Status for Immigrant Kids
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges