Cisco plans to cut cost up to $2 bln

New Delhi, Nov 17 (UNI) Networking firm Cisco Systems today said it will not resort to job cutting but freeze further employment and cut its travel expenditure as part of cost cutting measures the company has taken to save two billion dollars.

"As we have said earlier, we have freezed hiring process... we will not be laying off people,'' Cisco Systems Executive Vice President and Chief Globalisation Officer Wim Elfrink told reporters here on the sidelines of the World Economic Forum, jointly organised by World Economic Forum and CII.

Besides, the company is also looking to cut travel cost as part of its plan to save up to two billion dollars globally.

Amidst the global economic crisis, Cisco will adopt the policy of ''wait and watch'' before taking any decisions.

Cisco also plans to double its stake to 60 per cent in the Unified Communications (UC) space.

"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," Mr Elfrink said.

UNI MP/SBA SG BST1725