Job layoffs: The US Exchange received this information from the company. which states that 7% of the company’s workforce will be let go. This implies that the corporation may lose roughly 6,000 workers. The business has already carried out significant layoffs (Cisco Layoffs).
Job layoffs: Cisco, a massive networking giant, intends to let go of roughly 7% of its employees. The business will implement widespread layoffs (Cisco Layoffs). Consequently, numerous employees can be impacted. Even although the company’s results from May to July exceeded expectations, staff layoffs are still planned.
The US Exchange received this information from the company. which states that 7% of the workforce will be let go by the corporation. In other words, the corporation may lose around 6,000 workers. The business has already carried out significant layoffs (Cisco Layoffs).
In February 2024 alone, earlier this year, the business let go of 4,000 employees. This accounted for 5% of the company’s entire staff.
Job layoffs , Why is there another layoff?
According to Cisco officials, the corporation intends to reduce costs following the layoffs. The business plans to spend this money on AI and cyber security. Following the layoffs, the corporation may experience a $1 billion cost reduction.
The corporation anticipates being able to save between $700 and 800 million by the first quarter of 2025 as a result of this layoff decision. Another goal is to save a significant sum of money by the end of the year.
Job layoffs, Which AI firms will Cisco invest in?
According to Cisco, in June 2024, it has invested in the AI firms Cohere, Mistral, and Scale. One billion dollars was invested in each of the three firms. In addition, the business will begin collaborating with Nvidia on AI.
