Cisco systems have announced that it is to cut 1,300 jobs as part of a streamlining and cost cutting initiative.

The cut totals 2 percent of the organisations workforce and comes after the company cut 6,500 jobs in 2011. The cost cutting measures have been employed as the networking firm responds to the global economic downturn.

In a statement regarding the losses, Cisco said: “we continue to evaluate our organisational structure as part of our plan to drive simplicity, speed of decisions and agility across Cisco."