Cisco to Increase Job Cuts to About 6,600 After Q4 Revenue Forecast Miss
SOURCENews reportView the filing ↗
What we know
Location: global.
A specific layoff date has not been disclosed.
Based on news reporting.
Summary
Cisco Systems announced it will lay off additional employees after warning it expects to miss its fourth-quarter revenue target by around 6% year-over-year. The company said it will be cutting 'more than 1,100 extra employees' beyond an earlier August 2016 plan of 5,500 job cuts, bringing the total to about 6,600 roles affected as Cisco shifts focus from hardware to software. Cisco reported softer revenue trends, citing a small decline in public-sector business, and provided third-quarter revenue of $11.9 billion with net income up about 7%. Leadership framed the reductions as part of a transformation toward software and recurring revenue streams while continuing investment in growth areas. The announcement describes a planned workforce reduction rather than completed layoffs and does not specify exact timing or affected departments.
Cisco Systems, Inc. cut 6,600 jobs.
That is roughly 7.3% of the 90,400 people Cisco Systems, Inc. employs.
LayoffTalk has tracked 17 layoff events at Cisco Systems, Inc. since March 2023, including 3,341 jobs documented in official WARN filings, with 10 additional events known from news reporting.
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