Cisco has laid off nearly 700 people, including two vice presidents

Source: IT Home Author: Ocean

    On January 9, the network giant Cisco cut nearly 700 employees in the US Bay Area, including 80 in its San Francisco office.

    According to SFGATE, Cisco said that as part of the "limited business restructuring" announced in November last year, the company reduced 673 employees in total. According to the report, 371 employees were laid off at its headquarters, including two vice presidents of Cisco. In the Milpitas office, 222 employees, mainly engineers and technicians, were laid off. However, it is not clear whether Cisco will carry out more rounds of layoffs.

    It is reported that the network giant is reducing 5% of its employees, or more than 4000 employees. More than 52% of its global employees are outside the United States.

    IT Home learned that Cisco said in a statement, "We did not make this decision easily. We will provide extensive support to the affected people, including generous severance payments". In its financial report for the first quarter of 2023, Cisco announced a revenue of $13.6 billion, up 6% year on year.

    Chuck Robbins, chairman and CEO of Cisco, did not disclose any details about layoffs, but said that some businesses were being rationalized.

    As the two giants in the field of network equipment in the world today, Cisco and Huawei filed a lawsuit over patent infringement 20 years ago, and banned the sale of Huawei equipment in the United States. Then Huawei promoted the establishment of its own network authentication system and became known to the outside world. Huawei has many competitors in the United States, but in the 58-page investigation report of the Standing Special Intelligence Committee of the United States House of Representatives 10 years ago, the only competitor that appeared was Cisco.