Nearly 700 jobs were cut by networking behemoth Cisco in the Bay Area, including 80 at its san francisco operations. SFGATE reports that the tech giant fired 673 people in total as part of a "limited business restructuring" that was revealed in november of last year. Two Cisco vice presidents were among the 371 employees at corporate headquarters who were impacted, the report said late on Friday. There were 222 people in the Milpitas headquarters who were asked to leave, mostly engineers and technical staff.
Uncertainty surrounds the possibility of additional layoff rounds at Cisco. According to reports, the big networking company would let go 5% of its personnel, or more than 4,000 workers. Outside of the US, more than 52% of its global workforce is based. Networking giant Cisco announced layoffs in november as part of a "rebalancing" effort and "rightsizing key businesses," joining the Big Tech layoff season. We didn't take this decision lightly, and we will provide people affected by it with significant support, including generous severance compensation, Cisco had stated in a statement.
Cisco reported $13.6 billion in revenue for the first quarter of 2023, an increase of 6% from the previous year. Cisco's chairman and CEO, Chuck Robbins, promised to withhold specific information about layoffs "Be hesitant to go into great detail until we can speak with them. What we're doing, in my opinion, is rightsizing some businesses ".
Uncertainty surrounds the possibility of additional layoff rounds at Cisco. According to reports, the big networking company would let go 5% of its personnel, or more than 4,000 workers. Outside of the US, more than 52% of its global workforce is based. Networking giant Cisco announced layoffs in november as part of a "rebalancing" effort and "rightsizing key businesses," joining the Big Tech layoff season. We didn't take this decision lightly, and we will provide people affected by it with significant support, including generous severance compensation, Cisco had stated in a statement.
Cisco reported $13.6 billion in revenue for the first quarter of 2023, an increase of 6% from the previous year. Cisco's chairman and CEO, Chuck Robbins, promised to withhold specific information about layoffs "Be hesitant to go into great detail until we can speak with them. What we're doing, in my opinion, is rightsizing some businesses ".
