Cisco to Lay Off Thousands More Employees in Second Job Cuts This Year
Bloomberg Reports Cisco Systems Inc. Plans to Eliminate More Jobs
Layoffs Follow Earlier Cuts of Over 4,000 Employees
Cisco Systems Inc. plans to eliminate thousands more jobs in a second round of layoffs this year, according to Bloomberg. The move follows an earlier round of cuts that affected over 4,000 employees.
Sources familiar with the situation told Bloomberg that the latest round of layoffs could affect a similar number of employees. Cisco has not confirmed the report, but the company has acknowledged that it is facing economic challenges.
In February, Cisco announced plans to cut more than 4,000 jobs, or about 5% of its workforce. The company said at the time that the move was necessary to reduce costs and improve efficiency.
The latest round of layoffs is likely to be part of Cisco's ongoing efforts to restructure its business and focus on higher-margin products and services.
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