Coming off the back of Amazon’s 1800 job cuts at the start of the year, Cisco the digital com-tech company announced its plans to lay off around 700 employees.
Having already fired around 5 per cent of its workforce in 2022, accounting for nearly 4000 employees, it comes as a slight surprise as to why it would have to resort to similar measures in 2023.
The company has stated the prior layoffs were a part of a ‘rebalancing strategy’, as the company was ‘rightsizing its businesses’.
Cisco’s 2022 layoffs caused quite a stir, leaving employees in a vulnerable spot looking for jobs via their social media pages and job searching websites. Details of the severance pay to be received by them still seems unclear.
As the reason for these layoffs is still unclear, what we do know is that the layoffs were across various departments, including software engineering, hardware engineering, programme management, product design, marketing and more, according to a report from SFGATE.
The same report mentions about 371 employees including two vice presidents based in San Jose, California have been asked to leave the company.
222 engineers from the nearby city of Milpitas and around 80 employees from San Francisco were let gone too.