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 ...

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.

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.

Cisco’s last round of layoffs occured in January when the company revealed that it was cutting 673 jobs in the San Francisco Bay Area as part of its plan to maximize cost savings announced in 2022.

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.

Technology company Cisco announced Wednesday that it plans to lay off 5% of its global workforce, amounting to thousands of employees, as part of a company-wide restructuring.

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 ...

The second month of 2024 was the worst February for layoffs since 2009, according to the Challenger Report. ... Cisco company logo is seen on an office building in 2021.

Cisco did not directly comment but said in a statement that "we didn't take this decision lightly, and we will offer those impacted extensive support, including generous severance packages". In its ...

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 ...

Cisco employs some 38,000 people in the United States alone. Under this new plan, Cisco will shut down between December 28th and December 30th, and then again from January 3rd through the 5th.