Cisco Plans Second Round of Layoffs

Thousands of Jobs to Be Cut

Tech giant Cisco is planning to announce another round of layoffs, according to Reuters. The company reportedly intends to cut thousands of jobs, following a previous round of layoffs earlier this year.

Reason for Layoffs

The reasons behind the layoffs are unclear, but Cisco has been facing challenges due to the ongoing economic downturn. The company has also been struggling to keep up with the rapid pace of technological change in the tech industry.

Impact on Employees

The layoffs are expected to affect thousands of employees worldwide. Cisco has a global workforce of over 83,000 employees, and the cuts are expected to represent about 5% of that number.

Company Statement

Cisco has not yet publicly confirmed the layoffs, but a company spokesperson said that Cisco "regularly evaluates its business and makes adjustments as needed to ensure alignment with our strategic priorities." The spokesperson declined to provide further details.

Conclusion

Cisco's planned layoffs are a stark reminder of the challenges facing the tech industry. As the economy continues to slow down and technology evolves rapidly, companies like Cisco are forced to make difficult decisions to stay competitive. The layoffs will undoubtedly have a significant impact on the employees who are affected, as well as on the communities where they live.