Cisco to Lay Off Thousands of Workers Amidst Efficiency Drive
Second Round of Job Cuts in 2024
By Utkarsh Shetti and Supantha Mukherjee, Reuters
US tech giant Cisco plans to lay off thousands of workers in the second round of layoffs this year. The layoffs are part of the company's strategy to improve efficiency and productivity.
In February 2024, Cisco laid off 5% of its global workforce, impacting approximately 4,000 jobs. As of July 2023, Cisco had a workforce of 84,900 employees, not counting the positions eliminated earlier this year.
Reuters reports that the networking equipment maker is planning to eliminate thousands more jobs in the upcoming layoffs. The specific number of positions to be cut is still to be determined. The company aims to announce the official details of the layoffs soon.
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