After e-commerce giant Amazon, CISCO fired hundreds of employees. The tech company had laid off 700 employees. Here is everything you need to know related to it.
Keeping it short
- As per the reports, CISCO has fired 700 employees
- Back in 2022, the company had laid off nearly 5 percent of its workforce.
- The reason behind these layoffs is the rebalancing act.
By Crox Media Desk: The last six months of 2022 have been quite hard for tech employees across the globe. But it seems like job cuts will continue for a few more months as companies are still figuring out the best way to cut down the operational cost. Amazon itself announced that it will be reducing 18000 headcounts, as part layoff plan. Yet another tech company, CISCO has laid off 700 employees.
According to a report by SFGATE, Layoff has been done in several departments, including software, hardware engineering, program management, marketing, and more. It is being said that around 371 employees who are based out of San Jose have been asked to leave the company with immediate effect.
A big step is taken because of the economic downturn and the company wants to reduce operational costs. Though, the company hasn’t confirmed the exact reason behind this. The company CEO Chuck Robbins hasn’t confirmed the details but he did confirm that the company is removing people to “rightsize certain businesses”.
Several reports are claiming that CISCO fired around 5 percent of its workforce last year which accounts for more than 4000 employees. The layoffs are being done because of “rebalancing” and “rightsize certain businesses” It is still unknown whether the company is providing any support system to the impacted employees.