In the midst of technical industry facing workforce shortage falling down to the worst, Cisco System for filling up the gap will be training the required workforce by committing over $1 billion and also doubling the number of people it wanted to the train for the tech industry.
On last Sunday in Johannesburg, South Africa at Global Citizen Festival, CEO of Cisco Chuck Robbins announced their plans to provide, for jobs in the tech economy worldwide, by preparing 10 million people through its Networking Academy Program over the next 5 years with an investment of $1.5 billion.
With its 21 year old program, Cisco has trained about 9 million people with industry based technical skills since its inception in 1997 by offering in-person and online lessons for a variety of programs prepared specially focusing tech industry’s needs. And now Cisco with its new commitment will boost the program to train more number of people in quarter of the time previously taken to train roughly the same number of people.
For the deficiency of technically skilled workers, limitedly available in dynamically changing and expanding tech industry, tech giants of Silicon Valley including Cisco has now been coming up with the investment for the skill development of the current workforce and also providing training to prospective workers in the tech industry. With expanding of employee benefits to new benefits including fertility offerings has been introduced by Cisco for its existing employee retention strategy try to compete the other younger giants Google parent Alphabet Inc. and Facebook Inc.
For boosting up its revenue from the subscriptions, by transitioning its business model Cisco is also focusing on software products. For its current organizational restructuring taking out hundreds of its employees, Cisco is likely to be taking a hit of $1.5 billion.
Cisco will be providing specialized security training to British Officers numbering 120,000 in the country through its Networking Academy partnering British government, as announced Cisco last week