Networking goliath Cisco will reportedly slash thousands of jobs as it focuses on growing its cybersecurity business and capitalizing on AI demand.
According to a Reuters report citing unknown persons “familiar with the matter,” the second round of layoffs is expected to be similar in scope, or potentially slightly larger than the last round in February, when about 4,000 employees were laid off. As of July 2023, Cisco employed 84,900 workers.
The official announcement could come as soon as Wednesday when Cisco is due to share its fourth-quarter results, sources told the news wire.
Cisco had “no comment on rumors” to share.
Source: The Register