Bill Nuti, who had been in Europe just over a year-and-a-half, will now become senior vice president for Cisco’s service provider operations business.
During Nuti’s time presiding over Emea, Cisco poured more than $8bn (£5.3bn) in investment into the region. Emea has become a significant market for Cisco, accounting for $4bn in sales in the last half year, or just under 30 per cent of the company’s total revenue, while the number of employees has almost doubled, reaching 8,000.
Meanwhile, 3Com joined the list of companies announcing slowdown casualties last week. As part of its previously announced restructuring and cost-cutting effort, it has confirmed it will lay off about 900 workers, equivalent to ten per cent of its workforce.
The company also confirmed it was shedding temporary and contract staff (see MicroScope, 20 February). About 300 of 2,500 temporary and contract jobs will go. The company has not disclosed where the job cuts will hit, saying only that they will be spread across the business and not concentrated on any particular areas.
The job cuts are part of the restructuring plan announced in December, which will cost the company up to $60m as it tries to save up to $250m a year.
Meanwhile, the company had more bad news for its shareholders when it warned that it would lose twice as much money in the upcoming quarter than previously forecast, blaming a slowdown in the telecommunications market and the US economy.