Cisco Layoffs: Tech Firm To Fire 5,600 Employees In 2nd Round Of Job Cuts

Given that Cisco indicated in Aug 2024 that it intended to reduce staff but withheld information regarding which individuals and departments would be impacted, these recent layoffs are surprising

Cisco Layoffs: This comes after Cisco let go of over 4,000 employees during a similar downsizing earlier this year in February

Source : Cisco

Tech giant Cisco has announced another wave of layoffs this year. The second of the year has resulted in the loss of jobs for about 5,600 workers, or about 7 per cent of the company's entire staff. This comes after Cisco let go of over 4,000 employees during a similar downsizing earlier this year in February. 

Given that Cisco indicated in August 2024 that it intended to reduce staff but withheld information regarding which individuals and departments would be impacted, this most recent wave of layoffs is surprising. The corporation didn't finally notify the employees until mid-September, which resulted in nearly a month of uncertainty for many of them. Employee Discontent has increased as a result of this delay since many of them felt misinformed throughout the process.

Insider reports paint a picture of a deteriorating workplace culture, with some workers characterising it as poisonous because of a dearth of communication. One employee told TechCrunch, which initially broke the story of the layoffs that this was the worst work atmosphere they had ever encountered at Cisco. Employee anxiety increased as a result of the notification delay since they were left wondering about their futures for a considerable amount of time.

According to information obtained by TechCrunch, the company's threat intelligence and security research section, Talos Security, is also affected by the layoffs.

In a statement released in August, Cisco stated that it would be able to "invest in key growth opportunities and drive more efficiencies" as a result of its second layoff of the year. In its most recent full-year financial report, Cisco announced that 2024 was its "second strongest year on record," reporting about $54 billion in annual revenue. The report was released on the same day.

According to company records, Cisco CEO Chuck Robbins received a compensation of around $32 million in 2023.