InfrastructureUS

Cisco Layoffs

February 2024

Cisco announced a layoff affecting 4,250 employees (5% of its workforce) in February 2024. The company operates in the Infrastructure sector.

People Affected

4,250

Percentage

Announced Date

Feb 14, 2024

About

Cisco, a major networking and technology company, announced plans on Wednesday, February 14, 2024, to lay off approximately 4,250 employees, representing 5% of its global workforce. This decision comes as part of a broader industry trend of cost-cutting in the tech sector. While the company reported strong fiscal second-quarter results, it provided a light revenue and earnings forecast for the upcoming quarters. CEO Chuck Robbins cited a cautious macroeconomic environment and increased customer scrutiny on deals as key challenges. The layoffs are aimed at restructuring and reallocating resources, particularly as Cisco prepares to integrate its pending $28 billion acquisition of Splunk.