“Cisco plans to eliminate thousands of jobs in order to concentrate on high growth areas.”

According to three people informed on the plans, Cisco Systems is planning a major reorganization that would result in the termination of thousands of employees in order to shift its focus to industries with more room for development.

According to its website, San Jose, California-based Cisco said that it employed 84,900 people in the fiscal year 2023.
The precise number of workers who would be affected by the job losses is still being discussed, according to a Reuters report.
According to a Reuters story, the corporation may make these announcements by next week, in line with its planned results conference on February 14.
Prior to this, in November 2022, Cisco revealed during an earnings call a reorganization plan that would have an impact on around 5% of its workforce and cost $600 million in severance and other costs.
This comes at a time when several big companies, such as the telecom equipment makers Nokia and Ericsson, have lately trimmed staff in an effort to save money.
In recent weeks, layoff announcements have also been made by Microsoft, Amazon, and Alphabet, among other large IT companies.
Cisco downgraded its full-year sales and profit projections in its most recent earnings report, citing a slowdown in the market for its networking devices.
Asserting that “customers are currently focused on installing and implementing products in their environments,” the business linked this decline to a drop in orders during the first quarter.
Due to supply chain interruptions and a drop in demand after the pandemic, Cisco has had to move more quickly toward software solutions, such as cybersecurity.
Here is a summary of the 2024 layoffs that have been disclosed so far:
Activision Blizzard and Xbox, two of Microsoft’s gaming operations, are expected to lose 1,900 employees.
IBM intends to increase hiring for positions focused on AI in 2024 while laying off a portion of its workforce.
eBay, an online retailer, intends to eliminate around 1,000 positions, or 9% of its present staff.
Unity Software, a producer of videogame software, plans to eliminate 1,800 positions, or about 25% of its staff.
DocuSign intends to lay off 400 workers, or around 6% of its present staff. The bulk of the layoffs will occur in the company’s sales and marketing departments.
Snap intends to eliminate 528 positions, or 10% of its staff worldwide.
Approximately 700 individuals, or 1% of its worldwide workforce, are being let go by Salesforce.
The massive network company Cisco intends to reorganize its operations, which will include firing thousands of workers.
Aurora Innovation, a business that develops autonomous car technologies, fires 3% of its staff.