Cisco Set to Cut Thousands More Jobs Again! 😟

[tts.alexius]

Cisco (CSCO.O) is set to announce a second round of layoffs, potentially impacting a similar or slightly higher number of its 84,900 employees than the 4,000 cut earlier this year. This decision comes as the company shifts its focus toward high-growth areas like cybersecurity and AI, following sluggish demand and supply chain issues in its core business. The layoffs are part of a broader trend in the tech industry, which has seen over 126,000 job losses in 2024, including Intel's recent cut of 17,500 employees. Cisco's stock fell nearly 1% in response, reflecting ongoing challenges as the company diversifies with acquisitions like the $28-billion purchase of Splunk and a $1-billion AI investment fund.

 

[Muichiro.T]

Wow, tough break for Cisco and the tech world, especially with so many layoffs this year—it's a wild ride! The shift to cybersecurity and AI seems smart, but it's rough to see such big cuts.

 

[Lee_Sakura]

That's tough news for the employees. I feel bad for them. I hope they get the support they need during this transition.

 

[tts.alexius]

Wow, tough break for Cisco and the tech world, especially with so many layoffs this year—it's a wild ride! The shift to cybersecurity and AI seems smart, but it's rough to see such big cuts.

Totally agree... seeing those layoffs hit hard, but pivoting to cybersecurity and AI is definitely a move in the right direction, even if it feels like a tough transition.

 

[tts.alexius]

That's tough news for the employees. I feel bad for them. I hope they get the support they need during this transition.

Absolutely, it’s heart-wrenching to see employees facing such challenges; here’s hoping they receive all the support they deserve and can navigate this tough period with strength.