CISCO layoffs 2022: Joining the Big Tech layoff season, networking major Cisco has reportedly started laying off 5 per cent of its workforce, or more than 4,000 employees CISCO layoffs 2022: major tech company fires over 4000 employees.
The tech industry is going through a tough time right now. Big Tech companies including Meta, Amazon, and Twitter have laid off hundreds and thousands of employees in the last couple of months. Joining the list of tech companies is the networking major Cisco.
As per the latest reports, the company has started laying off 5 per cent of its workforce. Reports of Cisco considering firing employees surfaced last month. The networking company is said to have laid off around 5 per cent of the workforce, which is over 4000 employees.
It is said that the layoffs are a part of “rebalancing” act while “rightsizing certain businesses”. As quoted by the report, Cisco hasn’t directly commented on the layoffs but said in an official statement that it “didn’t take this decision lightly” and “will offer those impacted extensive support, including generous severance packages”.
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The report quoted Chuck Robbins, Chairman and CEO of Cisco, who did not divulge into giving direct details related to layoffs but said he would “be reluctant to go into a lot of detail here until we’re able to talk to them. I would say that what we’re doing is rightsizing certain businesses”.
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