Cisco to cull jobs as part of restructure ...Middle East

Cisco announced plans to cut thousands of employees as part of a restructure to shift its focus towards high-growth areas including AI and software. The vendor stated it planned to cull about 5 per cent of its global workforce as part of the plan. It had around 84,900 employees in 2023, which means it could be laying off more than 4,000. Cisco will incur expenses of about $500 million due to the restructuring measures. It expects to implement most of the job reductions in its current fiscal quarter, which runs to late April. The vendor culled 4,000 jobs in November 2023 as part of a $600 million restructuring plan. On a call to discuss fiscal Q2 2024 earnings (the period to 27 January),

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Last updated : 15 February 2024 clock 02:40 PM

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Cisco to cull jobs as part of restructure ...Middle East

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