Cisco Announces Second Round Of Job Cuts

Cisco Systems Layoffs: 7% of Workforce Cut Amidst Shift to AI, Cybersecurity

Cisco Announces Second Round of Job Cuts

Cisco Systems, a global leader in networking and communications, has announced plans to lay off 7% of its global workforce, amounting to approximately 4,100 employees. This marks the second round of job cuts for the company in 2023, following a previous round that impacted 5% of the workforce in June.

Focus Shift to AI and Cybersecurity

The layoffs are part of Cisco's broader strategic shift towards artificial intelligence (AI) and cybersecurity. The company aims to invest heavily in these areas to enhance its product offerings and meet evolving customer demands. Cisco has identified these fields as critical for the future of the industry and believes they offer significant growth potential.

According to Cisco CEO Chuck Robbins, the company is "making these changes to position ourselves for future growth and create a more resilient business." He emphasized that the layoffs were necessary to "increase agility and efficiency" in the face of a rapidly changing market.

The job cuts are expected to impact employees in various departments, including engineering, sales, and operations. The company will provide affected employees with severance packages, outplacement support, and other benefits.