Cisco Restructuring Layoffs 2024. Cisco’s revenue declined 6% year over year during the quarter, which ended on jan. Cisco systems inc., the largest maker of networking equipment, plans to cut thousands of jobs after a slowdown in corporate tech spending wiped out its sales growth.
Cisco systems confirmed massive layoffs wednesday with plans to cut about 7 percent of its global workforce, which should cost up to $1 billion. Cisco in its second quarter filings announced a companywide layoff that would impact about 5 percent of its workforce, or about 4,250 employees, as it works to.
