Cisco freezes hiring to cut cost

BANGALORE, INDIA: Cisco Systems, a provider in networking services, today said it has frozen the hiring process.

According to the media report, it has planned to adopt a wait and watch policy due to the global slowdown besides cutting costs up to $2 billion through various means.

"As we have earlier said, we have a hiring freeze... Looking at the present scenario, we will not be laying off people," Cisco Systems, executive vice-president and chief globalizations officer Wim Elfrink.

Elfrink added, Cisco is adopting a wait and watch policy of 6-8 weeks before taking any decisions.

The sources reported that it has also planned to cuts costs up to $2 billion through measures like slashing travel costs.

Cisco reported a 30 per cent market share in the Unified Communications (UC) space, is looking at doubling it even as its competitors, Microsoft and Avaya spruce up their product offering.

"We have a share of 30 per cent and will increase it to 60 per cent in the long term. The focus will remain on emerging markets like India to give us the necessary growth," he said.