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 ...

Cisco Layoffs In 2024 In February, Cisco announced that it would conduct a companywide layoff round that would impact about 5 percent of its workforce, totaling about 4,250 employees.

This latest round of layoffs will affect at least 4,000 employees. The company is expected to make the official announcement in its upcoming quarterly earnings report, which is due tomorrow.

On the same day, Cisco published its most recent full-year earnings report, in which the company said 2024 was its “second strongest year on record,” citing close to $54 billion in annual revenue.

In an earnings report, Cisco posted net income of $2.16 billion in its most recent quarter, down 45 percent from a year earlier, and revenue of $13.64 billion, down 10 percent.

Cisco had already announced one major round of layoffs back in February, when it said it was eliminating about 4,000 jobs, or 5% of its workforce. This second round of job cuts will be even more ...

Cisco has been putting artificial intelligence into network management and customer support systems, Forbes reported. Meanwhile, Intuit announced layoffs of 1,800 workers in July last year as part ...