Maria Martinez, who led Cisco, an American multinational digital communications technology conglomerate corporation, as chief operating officer, has stepped down from her position. Her departure comes on the heels of an impending $28 billion acquisition of Splunk, a software company.
Martinez stated, “Today we announced that I will be departing Cisco after 6 years. As Cisco moves into its new chapter with the Splunk acquisition, it’s the perfect time for me to do the same. Cisco will always be special for its unmatched culture. I am incredibly proud and grateful for the accomplishments and character of my team.”
Martinez started off at AT&T Bell Labs and went on to work across Motorola, Embrace Networks, Microsoft, Declara, Plantronics and Salesforce. Last week, Cisco System announced that it would cut five percent of its global workforce, or more than 4,000 jobs.
As the company lowers its revenue target, it tries to sail through a tough economy which has been hit by layoffs starting early 2024.
Clients in the telecom industry have put restrictions on their expenditure and so analysts expect that the demand for Cisco products will remain under pressure.