Cisco Plans Second Round of Layoffs

Thousands of Jobs to Be Cut

Network giant Cisco has announced plans for a second round of layoffs this year, targeting thousands of jobs. The move comes after the company cut approximately 4,000 jobs in February.

Restructuring and Slowdown

The layoffs are part of a broader restructuring effort aimed at streamlining Cisco's business operations. The company had earlier announced plans to reduce its workforce by 5% to 7% after experiencing a slowdown in corporate spending on networking equipment.

Affected Workforce

Cisco did not specify the number of employees who will be affected by the second round of layoffs. However, estimates suggest that it could impact thousands of roles across the company's global operations.

Previous Job Cuts

The second round of layoffs follows a previous wave of job cuts announced in February, which affected approximately 4,000 employees. Cisco cited a slowdown in corporate spending on networking equipment as the primary reason for those cuts.

Economic Impact

The latest job cuts are expected to have a significant impact on the tech industry. Cisco is one of the largest makers of computer networking equipment, and its layoffs are a sign of the broader economic challenges facing the sector.