Cisco layoffs impact 5,600 employees (once again)

After reducing costs earlier this year in February by firing more than 4,000 employees, Cisco is here again laying off about 5,600 employees in one go.

The U.S. tech company announced earlier in August that it is going to lay off about 7% of its workforce and we haven’t heard anything further about this.

Even after publishing a positive earnings report of $54 billion in annual revenue, today we learned that Cisco already laid off 5,600 employees (yes, 7% of total employees).

These new layoffs at Cisco are aimed at helping the company “invest in key growth opportunities and drive more efficiencies” as stated by the company.

Cisco didn’t share the names of impacted employees until the official announcement of the 16th September layoffs and employees were worried about whether they were going to be with the company or have to find a new job as the company announced that it is laying off more staff but didn’t disclose the names for a whole month.

Affecting thousands of employees with 2nd layoffs of 2024, Cisco is aiming to further enhance its revenue and focus on more growth oriented opportunities.