Cisco announced revenues that beat analysts expectations, but went on to list job cuts that will see a reduction in 6,000 posts.
The networking giant announced revenues of $12.36 billion, down from $12.42 billion in the same quarter a year ago. Net income was $2.25 billion down from $2.27 billion a year ago.
In an interview Cisco chief executive John Chambers said the job cuts did not mean a reduction in costs, more getting the right skills in place, reducing the headcount in declining businesses.
“We will exit this year pretty much with the same number of people we started the year with,” he said. “Some groups will not be affected at all. Others will.”
Chambers did not say where the job losses would fall, but areas such as data center, software, security and cloud are expected to see an increase in staff numbers, suggesting areas such as Videoscape/NDS may emerge unscathed.
