Cisco To Restructure Business Lay Off Employees

Cisco to Cut Thousands of Jobs in Second Layoff Round

Cisco to Restructure Business, Lay Off Employees

Cisco Systems, the California-based technology giant, is planning a second round of layoffs as part of a broader restructuring of its business operations. The company announced the cuts on August 9, 2024, citing the need to adapt to evolving market conditions.

Job Losses and Global Impact

Cisco plans to cut approximately 5% of its global workforce, representing over 4,000 job losses. The layoffs will primarily affect employees in the company's hardware and software divisions. Cisco did not disclose the specific locations where the majority of the cuts will occur.

The company's decision comes amidst a broader trend of job cuts in the technology industry. Recent reports from Meta, Microsoft, and Amazon indicate that the industry is facing economic headwinds and is adjusting by reducing staff.

Business Restructuring and Focus

As part of its restructuring, Cisco aims to streamline its operations and prioritize growth in key areas such as cloud computing, security, and software. The company expects the layoffs to contribute to cost savings and increased operational efficiency.

Cisco's move reflects the ongoing challenges facing the technology sector, which is experiencing declining hardware sales, increased competition, and a shift towards software and cloud-based services. The company is attempting to adapt to these changes by realigning its workforce and focusing on areas of higher growth potential.