Cisco NZ to cut contractors

Cisco New Zealand head Tim Hemingway says he has no plans to cut permanent staff as the networking vendor implements a 5% reduction in worldwide head count.

Cisco New Zealand head Tim Hemingway says he has no plans to cut permanent staff as the networking vendor implements a 5% reduction in worldwide head count.

Hemingway says "non revenue-generating" contract staff will get the chop and travel expenses will be pruned as the company contends with the US slowdown and initial signs of a worldwide business decline.

He says New Zealand business is traditionally slow in December and January and "the next quarter will tell us how it's going here".

The restructuring is expected to cost the company $US300 million to $US400 million by the end of the fourth quarter of fiscal 2001.

Cisco has 43,000 staff.

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