Cisco's Planned Job Cuts

Second Round of Layoffs This Year

Technology company Cisco announced Wednesday that it plans to lay off 5% of its global workforce, amounting to thousands of employees. This announcement comes after the company's previous layoff round in February, which impacted about 5% of its workforce.

Shifting Focus to Higher-Growth

According to Reuters, Cisco's layoffs are part of a broader plan to restructure its business and focus on higher-growth areas. The company has been facing declining demand for its networking equipment in recent years as more businesses move to cloud-based solutions.

Conclusion

Cisco's planned job cuts are a sign of the changing technology landscape. As businesses increasingly adopt cloud-based solutions, companies like Cisco are forced to adapt and focus on new growth opportunities. It remains to be seen how Cisco's restructuring will impact the company's long-term prospects, but it is clear that the networking giant is facing a challenging period.