Cisco Plans Second Round of Layoffs in 2024, Thousands of Jobs at Risk
11 Sources
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Cisco to lay off thousands more in second job cut this year, sources say
Cisco will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said. The number of people affected could be similar to or slightly higher than the
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Cisco to lay off thousands more in second job cut this year, sources say
Aug 9 (Reuters) - Cisco will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said. The number of people affected could be similar to or slightly
[3]
Cisco to lay off thousands more in second job cut this year, sources say
The number of people affected could be similar to or slightly higher than the 4,000 employees Cisco laid off in February Cisco will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and
[4]
Cisco axing thousands of jobs in second round of layoffs amid shift...
Cisco will cut thousands of jobs in a second round of layoffs this year as the networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said. The number of people affected could be similar to or slightly higher than the 4,000
[5]
Exclusive-Cisco to lay off thousands more in second job cut this year, sources say
The number of people affected could be similar to or slightly higher than the 4,000 employees Cisco laid off in February, and will likely be announced as early as Wednesday with the company's fourth-quarter results, said the sources, who were not authorized to speak publicly. Reuters exclusively
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Cisco Plans New Round of Layoffs in Shift Toward AI, Cybersecurity, Reuters Reports
--Cisco plans to cut its workforce by thousands as the company shifts focus to higher-growth businesses, such as cybersecurity and artificial intelligence, Reuters reports, citing people familiar with the matter. --Cisco's layoffs are expected to be announced as early as Wednesday alongside the
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Cisco to lay off thousands of employees in second jobs cut this year, shifts focus to cybersecurity and AI: Report | Mint
The number of people affected could reportedly be similar to or slightly higher than the 4,000 employees Cisco fired in February Cisco Systems is set to lay off thousands of its employees in a second round of job cut this year, said a report by news agency Reuters. The San Jose, California-based
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Cisco to lay off thousands more in second job cut this year, sources say | BreakingNews.ie
Cisco will cut thousands of jobs in a second round of layoffs this year as the US networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said. The number of people affected could be similar to or slightly higher than the
[9]
Cisco may cut more jobs, and likely higher than it laid off in early 2024 - Times of India
Cisco, the world's leading networking equipment manufacturer, is reportedly planning another round of layoffs this year. According to an exclusive report in news agency Reuters, "Cisco will cut thousands of jobs in a second round of layoffs this year as the US networking equipment maker shifts
[10]
Cisco To Lay Off Around 4,000 Employees: Report
Thousands of Cisco employees will be affected by a new layoff round, which could be announced next week, according to a Reuters report. Cisco will reportedly lay off around 4,000 employees in its second round of job cuts this year as the world's largest networking company doubles down on
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Cisco to lay off thousands more in second job cut this year: Report
That has pushed the company to diversify with moves such as its $28-billion buyout of cybersecurity firm Splunk, which it completed in March. The acquisition will reduce its reliance on one-time equipment sales by boosting its subscription business. The company has been trying to incorporate AI
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Cisco Systems is preparing for another significant round of job cuts, potentially affecting thousands of employees. This move comes as part of the company's restructuring efforts and shift towards AI-focused operations.
Cisco's Second Wave of Layoffs in 2024
Cisco Systems, the networking giant, is gearing up for another substantial round of job cuts, potentially affecting thousands of employees. This decision marks the second major layoff initiative by the company in 2024, signaling a significant restructuring effort
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.Scale and Timing of the Layoffs
While the exact number of job cuts remains undisclosed, sources familiar with the matter suggest that it could impact "thousands" of workers. The layoffs are expected to be announced in the coming weeks, with affected employees being notified as early as next week
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.Previous Layoffs and Workforce Size
This new round of job cuts follows Cisco's earlier layoff announcement in November 2023, which affected approximately 5% of its workforce, or about 4,100 employees. As of July 2023, Cisco reported a total employee count of 84,900
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.Restructuring and Strategic Shift
The layoffs are part of Cisco's broader restructuring efforts aimed at reducing costs and realigning its workforce. The company is reportedly shifting its focus towards artificial intelligence (AI) and cloud computing, which necessitates a different skill set among its employees
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.Industry Context and Market Challenges
Cisco's decision comes amid a challenging period for the tech industry, with many companies implementing cost-cutting measures. The networking equipment market has been facing headwinds, including reduced spending by telecom companies and enterprises on network infrastructure
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.Related Stories
Company Performance and Future Outlook
Despite these challenges, Cisco has shown resilience in its financial performance. The company surpassed Wall Street estimates in its most recent quarterly results and raised its annual profit forecast. However, it also warned of a potential slowdown in product orders, indicating ongoing market uncertainties
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.Employee Support and Transition
As with previous layoffs, Cisco is expected to provide support to affected employees, including severance packages and job placement assistance. The company has emphasized its commitment to treating impacted workers with respect and providing necessary resources for their transition
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