US tech giant Cisco has laid off thousands of employees in what is reported to be the company's second major job cut this year. According to a TechCrunch report, Cisco is cutting around 5,600 jobs, or 7% of its workforce,

U.S. tech giant Cisco has let go of thousands of employees following its second layoff of 2024. The technology and networking company announced in August that it would reduce its headcount by 7%, or around 5,

These layoffs reflect a broader trend in the technology sector, where many firms are cutting jobs in response to economic pressures and reduced demand. In 2024 alone, over 136,000 employees across 422 tech companies have been affected by layoffs. Cisco, which employed roughly 85,000 people before these cuts, is among them, the report said.

Cisco is planning to lay off around 7% of its workforce, marking its second major layoff this year. The company is facing declining demand and high costs as it invests in AI. The layoffs, expected to be announced next week,

Given that Cisco indicated in Aug 2024 that it intended to reduce staff but withheld information regarding which individuals and departments would be impacted, these recent layoffs are surprising

The tech industry continued its downward spiral in August 2024, with over 27,000 job cuts announced by 40+ companies. This brings the total tech job losses for the year to over 136,000

Cisco, the US tech conglomerate, has announced a major round of layoffs amid declining demand and ramping up investments in artificial intelligence (AI). This latest round of job cuts follows a previous round earlier this year.

Cisco has begun laying off 5,600 employees, impacting 7% of its workforce. The restructuring aims to boost efficiency despite the company reporting strong 2024 earnings of nearly $54 billion.

Cisco has reportedly laid off thousands of employees in its second round of job cuts for the year. The software company had announced it would reduce its head count by 7% or 5,600 employees in August.