Cisco is cutting thousands of jobs in its second major action in 2024
Thousands of Cisco jobs set to go in latest cuts
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Cisco is reportedly preparing another significant round of job cuts, with thousands of employees set to be affected.
A report fromReutershas claimed the networking giant could sack around 4,000 workers as it looks to address rising costs and falling revenues.
The cuts could be officially announced within the next few days, as the company prepares its next round of earnings.
More Cisco cuts
The news is the second round of major layoffs at Cisco in 2024 as the company aims to improve efficiency and productivity.
In February 2024,it laid off 5% of its global workforce- which at the time was equivalent to around 4,250 jobs, and also cut 4,100 workers in November 2022.
Cisco has spent big on acquisitions in recent months, finalizing its purchase ofdata analytics experts Splunkin March 2024 for around $28bn, so the jobs cuts could well be an after-effect of cutting costs due to this deal.
Other major players in the technology sector, includingAmazon,Google, andMicrosofthave all carried out similar job cuts recently as a direct result of troubling economic conditions and other related factors.
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Most recently,Dell revealed plans to cut around 10% of its workforceas part of plans to “streamline layers of management”.Intelalso announced its plan tocut 15,000 rolesas it aims to turn around what has been a challenging year so far.
Tracking websitelayoffs.fyiclaims over 130,000 roles have been cut in 2024 so far, with more doubtless to come in the near future.
TechRadar Pro has asked Cisco for comment, but the company did not immediately respond.
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Mike Moore is Deputy Editor at TechRadar Pro. He has worked as a B2B and B2C tech journalist for nearly a decade, including at one of the UK’s leading national newspapers and fellow Future title ITProPortal, and when he’s not keeping track of all the latest enterprise and workplace trends, can most likely be found watching, following or taking part in some kind of sport.
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