Cisco Plans New Round of Job Cuts Amid Strategic Shift to Cybersecurity and AI
Cisco, the leading manufacturer of networking equipment, is set to announce another wave of layoffs as early as Wednesday, coinciding with its fourth-quarter earnings report. This latest round of job cuts follows a previous reduction in February, which saw 4,000 employees let go. The new layoffs cou
Cisco, the leading manufacturer of networking equipment, is set to announce another wave of layoffs as early as Wednesday, coinciding with its fourth-quarter earnings report. This latest round of job cuts follows a previous reduction in February, which saw 4,000 employees let go. The new layoffs could match or slightly exceed this number.
The decision comes as Cisco aims to refocus its business towards higher-growth areas such as cybersecurity and artificial intelligence (AI), in response to ongoing challenges including sluggish demand and supply-chain disruptions in its core networking business. As of July 2023, Cisco employed approximately 84,900 people, not accounting for the earlier job cuts.
The company, headquartered in San Jose, California, has yet to respond to requests for comment on this development.
