Cisco has committed to creating 1,700 jobs in Ontario over the next six years as part of a 10-year deal with the provincial government. The new jobs will focus on research and development. Currently, the company employs 1,300 people in Ontario, and says it could expand its headcount to 5,000 by 2024.
“This initiative will … ensure that Ontario continues to be a leader in the information and communications technology industry, with a vast talent pool representing the country’s next generation of innovation,” said Nitin Kawale, president of Cisco Canada, in a statement.
Cisco, however, is doing more than just hiring. In August it announced plans to lay off 4,000 workers, and has cut 12,300 positions in about the past two years. Last week, the company cut its long-term revenue and earnings targets, citing, among other things, weak demand in emerging markets and conservative spending elsewhere.