Cisco to Cut Thousands of Jobs in Second Round of Layoffs
Layoffs Expected Next Week
Cisco, the networking equipment maker, will lay off thousands of employees in a second round of layoffs this year, according to a report by Reuters.
Focus on Higher-Growth Areas
Reasons for Layoffs
The layoffs are part of Cisco's plan to shift its focus to higher-growth areas, such as software and services.
Cisco has been facing declining sales of its traditional networking equipment as businesses move to cloud-based solutions.
Impact of Layoffs
The layoffs are expected to affect thousands of Cisco employees worldwide.
The company has not yet announced the exact number of jobs that will be cut.
The layoffs are expected to be announced next week.
Previous Layoffs
Cisco laid off 4,100 employees in July 2023.
The company has been reducing its workforce in recent years as it shifts its focus to higher-growth areas.
Industry Trends
Cisco is not the only networking equipment maker that is facing challenges.
The entire industry is undergoing a transformation as businesses move to cloud-based solutions.
Conclusion
Cisco's second round of layoffs is a sign of the changing landscape of the networking equipment industry.
The company is betting that its focus on higher-growth areas will help it to weather the storm.
Only time will tell whether Cisco's strategy will be successful.
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