Cisco will cut thousands of jobs In what will be Second round of layoffs this yearas the U.S. networking equipment maker shifts focus to higher-growth areas including cybersecurity and artificial intelligence (AI), people familiar with the matter told Reuters.
The number of people affected could be Similar to or slightly higher than the 4,000 employees Cisco laid off in February. This is likely to be Wednesday, the day the company reports its results, according to the same sources quoted by Reuters.
In February, the news agency also exclusively reported on job cuts announced by California-based Cisco, before the cuts were announced.
The company employed about 84,900 people through July 2023, according to annual data published by Cisco, a figure that does not take into account layoffs in February.
Asked to comment on the staff cuts, Cisco did not respond to Reuters' questions.
Cisco, the largest manufacturer of routers and switches that direct Internet traffic, has faced a problem. Weak demand and supply chain constraints In your main job.
The move prompted the company to diversify its business, leading to the $28 billion acquisition of cybersecurity firm Splunk, which was completed in March. The acquisition will reduce its reliance on one-time equipment sales, boosting its subscription business.
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