As reported by Computerworld, Cisco has confirmed that these layoffs are part of the previously announced 4,100 job cuts. A Cisco spokesperson stated, “These recent notifications are part of the rebalancing effort we began in November 2022, which included a limited restructuring impacting our real estate portfolio and approximately 5% of our workforce.”
The company is committed to supporting the affected employees in finding new opportunities within the organization. Generous severance packages will be offered to those affected.
Cisco had previously announced plans to cut 4,000 jobs last year
In the first fiscal quarter of 2023, Cisco revealed its plan to lay off 4,000 employees, approximately 5% of its workforce. During the company’s earnings call, Scott Herren, Cisco’s chief financial officer, described these actions as a “rebalancing” effort. The company aims to reallocate resources and increase investments in areas such as security, transitioning to platforms, and expanding cloud-based product offerings.
Herren clarified that the number of job openings in these specific investment areas is only slightly lower than the number of positions impacted by the rebalancing. This indicates the company’s intention to manage the transition effectively while fostering growth in critical areas.