Cisco Plans Second Round of Layoffs, Targets Thousands as Focus Shifts to Cybersecurity and AI

Cisco is preparing for a second significant round of layoffs this year, expected to affect thousands of employees as the tech giant redirects its focus toward high-growth areas such as cybersecurity and artificial intelligence (AI). This follows a similar round of job cuts in February, when the company let go of 4,000 employees. According to a Reuters report, the forthcoming layoffs could impact a comparable number of workers, with an official announcement likely to coincide with the company's fourth-quarter results. Sources indicate that the number of employees affected could be similar to or even exceed the February layoffs. As of July 2023, Cisco employed approximately 84,900 people, a figure that does not include the February job cuts. The company, a leader in manufacturing routers and switches that manage internet traffic, has been grappling with declining demand and supply chain issues in its core business. In response, Cisco has been diversifying its portfolio, including its $28 billion acquisition of cybersecurity firm Splunk in March. This acquisition is part of a broader strategy to reduce reliance on hardware sales