Networking company Cisco is implementing a new round of layoffs as part of its ongoing restructuring plan announced in November 2022. The layoffs, totaling 4,100 job cuts, were confirmed by Cisco and are a result of the company’s efforts to rebalance its operations.
In a statement to Computerworld, a Cisco spokesperson stated, “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% of our workforce.”
Cisco is committed to supporting affected employees in finding new opportunities within the organization. Extensive support will be provided, including generous severance packages.
Previous Job Cuts
Last year, Cisco announced plans to cut 4,000 jobs, approximately 5% of its workforce. During the company’s earnings call, Cisco’s chief financial officer, Scott Herren, described the job cuts as a “rebalancing” effort aimed at reallocating resources. The company plans to increase its investments in areas such as security, platform transitioning, and expanding cloud-based product offerings.
Herren emphasized that the number of job openings in these specific investment areas is only slightly lower than the number of positions that may be impacted by the rebalancing. This indicates Cisco’s strategic approach to managing the transition while still fostering growth in crucial areas.
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Deepak Sen is a tech enthusiast who covers the latest technological innovations, from AI to consumer gadgets. His articles provide readers with a glimpse into the ever-evolving world of technology.