Cisco to Cut Thousands More Jobs

Reuters Report Highlights Second Round of Layoffs

Cisco Systems (CSCO) has announced plans to eliminate thousands of jobs in a second round of layoffs this year, according to Reuters. The networking equipment maker aims to shift focus toward higher-growth areas.

Reasons for Layoffs

• Adjustments to market conditions and business priorities
• Optimization of operations
• Shift towards cloud and software-defined networking

Impact on Workforce

The exact number of employees affected by the layoffs is unclear, but it is expected to be substantial. A previous round of layoffs in early 2023 resulted in the elimination of 4,000 positions.

Estimated Timeline

Reuters reported that the new round of layoffs could be announced as early as next week. The company has not yet confirmed this information.

Employee Support Measures

Cisco is offering affected employees severance packages, job placement assistance, and other support services.

Conclusion

Cisco's second round of layoffs reflects the evolving landscape of the networking industry. The company's focus on high-growth areas is a strategic move to ensure its long-term competitiveness.