Cisco Lays Off Over 300 Employees Following Strong Q4 Revenue
SOURCENews reportView the filing ↗
What we know
Location: Bay Area, CA.
Based on news reporting.
Summary
Cisco Systems, Inc. has announced layoffs affecting over 300 employees despite reporting a significant revenue surge of $14.7 billion in Q4. The decision to reduce its workforce comes as the company aims to streamline operations and adapt to changing market conditions. This move reflects a broader trend in the tech industry, where companies are adjusting their workforce in response to economic pressures. The layoffs are part of a strategic effort to enhance efficiency and focus on key growth areas, although specific departments and locations affected have not been disclosed.
Cisco Systems, Inc. cut 300 jobs in CA as of October 30, 2023.
That is roughly 0.3% of the 90,400 people Cisco Systems, Inc. employs.
LayoffTalk has tracked 15 layoff events at Cisco Systems, Inc. since March 2023, including 3,341 jobs documented in official WARN filings, with 8 additional events known from news reporting.
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