Networking giant Cisco Systems is laying off staff again, employees reported on social media this week. While the employees saw this as a fresh round of layoffs, Cisco said it was just enacting plans announced in November 2022.
Cisco confirmed to ComputerWorld that there was a round of layoffs this week but said they were part of the 4,100 job cuts it had previously announced.
“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,” a Cisco spokesperson said.
Last November, despite posting record quarterly revenue of $13.6 billion, Cisco announced it would be laying off around 5% of its 83,000 workers.
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Source:: Computerworld