Reuters news agency reports that sources familiar with the matter say Cisco is preparing to announce a second round of layoffs this year, affecting approximately 4,000 employees, a number similar to the layoffs announced in February. It is expected that the company will make an official announcement along with the quarterly earnings report next week.
According to Reuters, Cisco representatives have not provided comments on the reported news. In recent times, Cisco has expanded its services and products into new categories, including the acquisition of Splunk to bolster cybersecurity services and introducing new revenue models like Subscription. Additionally, Cisco has invested in several AI companies such as Cohere, Mistral AI, and Scale AI.
Source: Reuters
TLDR: Cisco is reportedly planning a second round of layoffs, impacting around 4,000 employees, following recent expansions into new services and investments in AI companies.
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