Cisco wields the axe

Cisco Australia has begun the painful process of culling its local head count, with the cuts falling heaviest in its Channel group, e-commerce and marketing.

A spokesman for the company declined to comment on specific details, but confirmed that retrenchments have commenced and will continue throughout the week.

"We won't be giving out specific details for competitive reasons," the spokesman said.

Computerworld's sister publication The Australian Industry Standard understands from contacts that about 150 staff locally will lose their jobs. This is believed to represent somewhere between 15 and 20 per cent of the total workforce.

However, at least one of Cisco's partners claimed the number was lower, at 110 staff, although the discrepancy may relate to the division between full-time and contract employee layoffs.

The Channel group is believed to have been hardest hit, accounting for about half the losses.

Globally, the company is cutting 8500 staff as a result of the vicious correction currently under way in the technology market.

Sources indicate staff were given generous redundancies that included six months pay.

- story courtesy The Australian Industry Standard.

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