Community tools large Cisco is reportedly planning a company-wide restructuring that would have an effect on 1000’s of staff. Accordinb to an unique report in information company Reuters, the corporate continues to be deciding on the whole variety of staff to be affected by the layoffs. This transfer comes is claimed to have come as the corporate goals to streamline operations and concentrate on high-growth areas, in response to sources accustomed to the matter.
Potential affect
As many as a number of thousand staff could possibly be laid off, although the precise quantity stays unclear.Cisco at present has about 84,900 staff globally, in response to its web site.
Timing of layoffs
An official announcement might come as early as subsequent week, forward of the corporate’s earnings name on February 14.
Purpose for restructuring
This follows an identical transfer in November 2022, the place Cisco laid off 5% of its workforce as a part of a cost-cutting effort. The present plan goals to additional prioritize high-growth areas.
Cisco’s efficiency
The corporate lately lowered its full-year income and revenue forecasts as a result of a slowdown in demand for its networking tools. Components like provide chain points and post-pandemic market shifts are partly in charge.
Job cuts affect
With this restructuring, Cisco is anticipated to double down on software program choices like cybersecurity, that are seen as having higher progress potential.
Not the one one
Cisco is not alone – a number of different tech corporations, together with Amazon, Alphabet, and Microsoft, have applied layoffs lately, and telecom giants Nokia and Ericsson additionally made important cuts final yr.
Potential affect
As many as a number of thousand staff could possibly be laid off, although the precise quantity stays unclear.Cisco at present has about 84,900 staff globally, in response to its web site.
Timing of layoffs
An official announcement might come as early as subsequent week, forward of the corporate’s earnings name on February 14.
Purpose for restructuring
This follows an identical transfer in November 2022, the place Cisco laid off 5% of its workforce as a part of a cost-cutting effort. The present plan goals to additional prioritize high-growth areas.
Cisco’s efficiency
The corporate lately lowered its full-year income and revenue forecasts as a result of a slowdown in demand for its networking tools. Components like provide chain points and post-pandemic market shifts are partly in charge.
Job cuts affect
With this restructuring, Cisco is anticipated to double down on software program choices like cybersecurity, that are seen as having higher progress potential.
Not the one one
Cisco is not alone – a number of different tech corporations, together with Amazon, Alphabet, and Microsoft, have applied layoffs lately, and telecom giants Nokia and Ericsson additionally made important cuts final yr.
