Today: 27 August 2025
11 February 2024
1 min read

Cisco Set to Cut Thousands of Jobs

Cisco did not comment on the potential job cuts….reports Asian Lite News

Global networking giant Cisco is reportedly geared up to lay off “thousands” of employees next week, as the company pivots to focus on “high-growth areas”.

Cisco is expected to report its Q2 2024 earnings on February 14 and the layoff announcement is likely to be made during the earnings, reports Reuters.

Cisco did not comment on the potential job cuts.

Cisco last year issued layoff notices to nearly 4,000 employees, as the company rolled out efforts to “rebalance” and cut costs.

The networking company had a total employee count of 84,900 as of its fiscal 2023, according to reports.

In September last year, Cisco laid off 350 employees in the Silicon Valley in the US in its latest job cut round.

The company in November 2022 announced to slash about 5 per cent of its workforce, around 4,000 jobs.

The company had said in a statement that these “recent notifications are part of the rebalancing effort we began in November 2022, which included a limited restructuring impacting our real estate portfolio and approximately 5 per cent of our workforce”.

The layoffs in November were part of a $600 million restructuring plan.

“This rebalancing is about prioritising investments in our transformation, to meet and exceed our customers’ expectations in the changing technology landscape,” the company had said.

For its full fiscal 2023 year, Cisco generated sales of $57 billion.

ALSO READ: Microsoft becomes most valuable company ever

Previous Story

Blissclub Cuts 18% of Employees

Next Story

Paymart Unveils ‘Virtual ATM’ with 5 Banks

Latest from Business

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from the Ministry’s side is complete Union Minister for Communications and
Go toTop

Don't Miss

‘Vasudhaiva Kutumbakam’ : IIW celebrates 74th Indian Republic Day

Brent was astounded with patriotic parents enthralled to see little

Disarmament can be achieved through step-by-step process: Shringla

Foreign Secretary Harsh Vardhan Shringla said this in his statement