As reported by Computerworld, Cisco has confirmed that the layoffs are part of the 4,100 job cuts it announced earlier. “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 told Computerworld.
The company’s spokesperson assured that they are committed to making every effort to assist the impacted employees in finding new opportunities within the organization. They will provide extensive support, which includes offering generous severance packages to those affected.
Cisco announced its plans to cut 4,000 jobs last year
Last year Cisco revealed its plan to lay off 4,000 employees or about 5 per cent of its workforce during the first fiscal quarter of 2023.
During the company’s earnings call, Scott Herren, Cisco’s chief financial officer, described their actions as a “rebalancing” effort. He emphasised that this move shouldn’t be perceived as a mere cost-saving measure tied to headcount reduction. Instead, it is a strategic effort to reallocate resources.
Herren highlighted the areas where they intend to increase their investments, such as security, transitioning to platforms, and expanding cloud-based product offerings, as mentioned by Chuck earlier.
He clarified that the number of job openings in these specific investment areas is just slightly lower than the number of positions that may be impacted by the rebalancing. This indicates the company’s intention to skillfully manage the transition while still striving to foster growth in these critical areas.
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