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Cisco, a leading technology and networking company, has recently announced its second round of layoffs for the year. This decision comes just a month after the tech giant revealed its initial job cuts. According to the company, the layoffs are part of a restructuring plan aimed at improving efficiency and investing in key growth areas.
The latest round of job cuts is expected to affect around 5,600 employees, representing approximately 7% of Cisco’s workforce. While the company confirmed the layoffs in August, it reportedly started informing affected employees this week. The cuts have also impacted Talos Security, Cisco’s threat intelligence and security research unit.
- Cisco’s second round of layoffs is expected to affect 5,600 employees.
- The job cuts are part of a restructuring plan to improve efficiency and invest in growth.
- The layoffs have impacted Talos Security, Cisco’s threat intelligence and security research unit.
- CEO Chuck Robbins has expressed optimism about rebounding demand for Cisco’s networking equipment.
- Cisco’s first round of layoffs occurred in February, resulting in approximately 4,000 job cuts.
Despite the layoffs, Cisco CEO Chuck Robbins remains optimistic about the company’s future. He believes that the inventory digestion process is complete, and demand for Cisco’s networking equipment is returning to normal levels. However, the company has not provided any specific reasons for the month-long delay in notifying affected employees.
