Tuesday, April 16, 2024

Cisco Lays Off Nearly 700 Employees In SF Bay Area In US

San Francisco: Networking giant Cisco has laid off nearly 700 positions in the Bay Area — including 80 at its San Francisco offices.

According to SFGATE, the tech company has laid off a total of 673 workers as part of a “limited business restructuring” announced in November last year.

“At its headquarters, 371 workers were affected, including two Cisco vice presidents,” the report said late on Friday.

At the Milpitas office, 222 workers were asked to go, primarily engineers and technical employees.

It is, however, unclear whether Cisco will conduct more layoff rounds.

The networking major is reportedly laying off 5 per cent of its workforce, or more than 4,000 employees.

More than 52 per cent of its global staff is located outside of the US.

Joining the Big Tech layoff season, networking major Cisco in November announced layoffs in a “rebalancing” act while “rightsizing certain businesses”.

Cisco had said in a statement that “we didn’t take this decision lightly, and we will offer those impacted by extensive support, including generous severance packages”.

In its first quarter earning report (Q1 2023), Cisco reported $13.6 billion in revenue, up 6 per cent year over year.

Chuck Robbins, Chairman and CEO of Cisco, did not divulge any detail on laying off employees, saying he would “be reluctant to go into a lot of detail here until we’re able to talk to them. I would say that what we’re doing is rightsizing certain businesses”.

“You can just assume that we’re going to — we’re not actually — there’s nothing that’s a lower priority, but we are rightsizing certain businesses,” he had told the analysts.

Cisco Chief Financial Officer Scott Herren had described the move as a “rebalancing” act.

Related Articles

Woman Trampled To Death By Elephant In Sundargarh

0
Koida: A woman was reportedly trampled to death by a wild elephant at Kusumdihi village under Koida forest range in Odisha’s Sundargarh district today. The deceased...

ED Raid At Locations Associated With Artha Tatwa Group In Odisha;...

0
Bhubaneswar: The Enforcement Directorate (ED) has carried out search operations at various locations in Odisha in connection with the multi-crore chitfund scam in the...

Dr Rabindra Narayan Behera is all set to Contest Ensuing Election

0
Bhubaneswar: Former Senior Director of National Informatics Centre Dr Rabindra Narayan Behera is all set to contest in the ensuing election, on the Bharatiya...

School Bus Runs Over Girl In Odisha Capita

0
Bhubaneswar: A young girl was crushed under the wheels of a school bus in Odisha capital here today. The incident took place when the girl...

Laxmi Bus Service Inaugurated In 5 More Odisha Districts

0
Bhubaneswar: Chief Minister Naveen Patnaik today inaugurated LAccMI bus services in five more districts to provide affordable transportation for rural people. He flagged off the affordable...

Karnataka Sculptor Yogiraj Arun’s Ram Lalla To Be Installed In Ayodhya...

0
New Delhi, Jan 2: With the country counting down to the grand 'Pran-Pratishtha' ceremony of Ram Lalla in Ayodhya, the idol carved by sculptor Yogiraj Arun...

South Korean Opposition Leader Lee Jae-Myung Attacked During Visit To Busan

0
Seoul, Jan 2: South Korea's opposition party chief, Lee Jae-myung, was attacked during his visit to the southeastern port city of Busan on Tuesday, Yonhap...

Second Bilasuni Mahotsava Becomes a Massive Success

0
Bhubaneswar/ Cuttack : Second Bilasuni Mahotsava was held at picturesque village Bilasuni in Block Niali of Cuttack District with much pomp, splendour and fanfare....

Rourkela Assistant Collector’s Mysterious Demise: Murder Ruled Out, Investigation Continues

0
Rourkela: In the ongoing investigation surrounding the tragic demise of Sushmita Minz, the Assistant Collector of Rourkela in Sundargarh district, the Human Rights Protection...

Cybersecurity Wake-Up Call: India Tops Global Cyberattack Targets in 2022

0
New Delhi: A recent report has disclosed that India stands out as the primary target for cyberattacks, comprising 13.7% of all such incidents globally....

Opportunity Alert: UPSC Seeks Consultants for Assistant Section Officer Role

0
The Union Public Service Commission (UPSC) has released a recruitment advertisement for the position of Consultants (Assistant Section Officer Level) at its New Delhi...

Crisis and Redemption: WeWork’s Bold Move to Reinvent Itself Through Bankruptcy

0
WeWork, the office-sharing company, has formally filed for Chapter 11 bankruptcy protection in a federal court in New Jersey. The company reported that it...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

22,878FansLike
3,912FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

- Advertisement -