Cisco layoffs: Thousands to lose jobs as company focuses on ‘high-growth’ areas

Amid the recent layoffs by multiple tech and retail giants, Cisco has also decided to cut jobs. Cisco announces its decision to lay off thousands of employees Cisco to layoff thousands of employees as part of its restructuring plans The outlet adds that while the company has announced its layoffs, it is yet to decide the number of employees that will be affected. As Cisco prepares for its earning calls on February 14, the job cut-offs could be revealed “as early as next week.” Cisco's prior job cuts were also part of another restructuring plan, which “lead to $600 million in severance and other charges.” The company previously laid off about 5% of its workforce, which equates to 4,100 employees in November 2022, according to the outlet. In January, the California network giant's projected revenue suffered a 6.6% drop and a decrease in adjusted earnings per share, as per the outlet. The outlet further adds that while the company refused to comment on its recent decision, the move comes at a time when several tech companies, including Nokia and Ericsson, axed thousands of jobs last year in a bid to lower costs.