Cisco is reportedly preparing another significant round of job cuts, with thousands of employees set to be affected.
A report from Reuters has 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 of data analytics experts Splunk in 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, including Amazon, Google, and Microsoft have all carried out similar job cuts recently as a direct result of troubling economic conditions and other related factors.
Most recently, Dell revealed plans to cut around 10% of its workforce as part of plans to “streamline layers of management”. Intel also announced its plan to cut 15,000 roles as it aims to turn around what has been a challenging year so far.
Tracking website layoffs.fyi claims 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.
