Cisco To Cut Thousands Of Jobs

Cisco, the network industry leader, is preparing to restructure its operations to focus on high-growth industries. According to media sources, this strategic shift will result in the layoff of approximately thousands of employees.

The company is presently working to determine the exact number of employees who will be affected by the forthcoming layoffs, as per media reports. An official statement regarding the layoffs might come as early as next week, coinciding with the company's earnings call on 14 February.

During an earnings call in November 2022, Cisco announced a restructuring programme that would affect around 5 per cent of the staff, resulting in $600 million in severance and related liabilities.

Cisco's decision follows a recent results conference in which the firm reduced its full-year sales and profit estimates, indicating a slowing in demand for its networking equipment.