Cisco to Implement Further Layoffs as Part of Business Realignment
Friday, 9 August 2024, 14:57
Major Layoffs at Cisco
Cisco is expected to lay off thousands of employees in a second job-cut initiative this year. This decision is a result of the company's strategic focus shift toward higher-growth areas such as cybersecurity and artificial intelligence.
Context of Job Cuts
The impact of these layoffs mirrors earlier cuts made by the company, where approximately 4,000 employees were let go in February. Estimates suggest the upcoming layoffs could be similar or slightly exceed this number.
Announcement and Financial Outlook
- The layoffs may be officially announced alongside the fourth-quarter earnings report.
- The company’s pivot aims to enhance its competitive stance in growing market segments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.