Another big tech company fires over 4000 employees!!!
Due to the recession, the process of retrenchment is going on in companies around the world. Meanwhile, technology sector company Cisco Systems Inc has also made layoffs. The company had announced this only last month and now the retrenchment of employees from Cisco has started on a large scale.
The so-called Cisco employees have started looking for new jobs on TheLayoff.com and another professional networking site on Monday. The company has confirmed about the layoffs.
It is known that big tech companies like Meta, Amazon, Lenovo, Salesforce and Adobe have already laid off thousands of employees. According to an estimate, around 2 lakh people have lost their jobs in the tech sector globally. At the same time, Cisco had decided to lay off about 4,000 people from its place last month, which has started now.
A report in the Silicon Valley business Journal states that the company has decided to take this step under a 'rebalancing' act by 'powering up some businesses'. The report states that Cisco President and CEO Chuck Robbins "did not provide any details about the layoffs".
At present, the atmosphere of this retrenchment has reminded of the 2007 recession. Employees in all sectors are looking very hurt by this retrenchment.
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