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Cisco is cutting over 4,000 jobs for the second time this year | Total tech industry layoffs in 2024 so far have reached 130,482
It was only in February when Cisco laid off 4,000 people, or 5% of its workforce, as it struggled with a challenging economy and weak demand.
Reports state that slowing demand and shifting focus to growth areas, including AI, means 4,000 or more workers at the company could soon be out of a job. According to Reuters, Cisco is preparing to announce a new round of job cuts, possibly alongside its fourth-quarter results on Wednesday. The company is also focusing on an AI partnership with Nvidia that will see Cisco and Team Green's purpose-built Ethernet networking-based solutions sold through the former's global channels.
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