Cisco Systems said it will add up to 1,000 employees, primarily in its engineering and sales groups, over the next fiscal year, which ends July 31, 2005.
Cisco stated the hiring plans in its fiscal year 2003 annual report, released this week. Cisco's 2003 fiscal year ended July 31, 2004.
The company said it expects R&D and sales expenses to increase over the next 12 months as a result of the hiring. Cisco has more than 34,000 employees distributed among the following areas: 13,000 in sales and marketing; 12,000 in engineering; 6,000 in manufacturing and services; and 3,000 in finance and administration.
Cisco said it also plans to continue to use "strategic acquisitions" to add engineering and sales talent over the next fiscal year. Cisco has made eight acquisitions so far this year, totaling almost US$570 million in cash and stock.