Cisco wants to add 1,700 new jobs in Ontario over the next several years.
As manufacturing jobs become increasingly scarce throughout the province, the world’s leading maker of computer-networking equipment wants to bring several new employment opportunities to the area. However, these jobs won’t appear in Ontario all at once.
Bloomberg reports that Cisco plans to add these new jobs over the span of six years. The company intends to invest nearly $4 billion in the area, $2.2 billion of which is reportedly earmarked for salaries. If everything goes according to plan, then the company will boast around 5,000 employees in Ontario by 2024.
Manufacturing jobs throughout Ontario have dropped significantly over the past several years. A recent statistics report revealed that there were 1.1 million jobs available in the region in 2003. Ten years later, only 771,300 such opportunities were available to folks looking for employment.
According to Reuters, Ontario will fork out approximately $220 million to support Cisco’s proposed expansion. However, it’s still unclear how many new jobs will arrive right out of the gate.
“This initiative will also 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,” Cisco Canada president Nitin Kawale said in a recent statement on the matter.
Ontario’s minister for economic development, trade, and employment Eric Hoskins is also excited about the expansion. He added, “We’re sending a message to the world that Ontario is the best place anywhere for business to innovate.”
Cisco’s Rob Lloyd also supported the desire to boost job growth in the country. Since Canada is one of the company’s “best success stories globally,” the manufacturer wants to show its support by adding lots of new employment opportunities over the next six years.
“Cisco has invested in retaining and growing our employee footprint here in Ontario, particularly in R&D jobs. Today’s announcement with Premier Wynne is another milestone in driving our business in Canada and a testimony to our very positive relationship with the Province of Ontario,” Lloyd recently explained.
However, the addition of new jobs in Canada probably isn’t making too many people very happy in the United States. The Inquisitr previously reported that the company recently embarked on something called “workplace rebalancing,” an act that effectively eliminated 4,000 jobs. This is in addition to the 500 jobs the company cut in March.
What do you think about Cisco adding nearly 1,700 jobs in Ontario over the next six years?