Cisco is Planning Downsizing: The decision taken by Cisco is likely to impact hundreds of thousands employees.
In a recent news media report, the main reason for the move is to streamline its operations and focus on growing areas. Let us remind you that in 2022, the company also conducted layoffs on a huge amount.
Cisco is Planning Downsizing
The company that manufactures network equipment Cisco is believed to be conducting a major restructuring across the entire company. the plan of the tech giant could affect thousands of employees in the company.
An earlier report stated that Cisco is currently making decisions on the number of employees affected by cuts.
Many employees could be affected
The decision taken by the company could have a significant impact on the thousands of workers.
According to a report by a news agency that the primary reason behind the company’s decision is to streamline its operations and concentrate on growth areas.
It isn’t specific the number of employees who will be let go. It is clear that thousands of employees could be fired from their work.
Announcement may happen soon
According to Cisco the company, at present around 89,000 employees are employed by the company across the globe.
According to Cisco, the precise number of layoffs could happen in the next week. In case you are wondering the reader, similar steps were implemented by Cisco in November 2022 too.
In the past, Cisco had fired 5 percent of its employees in order to reduce expenses. During the next period, the company will to cut back even more employees.