Cisco Layoffs: Due to the recession that has come after the epidemic, the process of retrenchment of employees is going on in companies around the world. Meanwhile, Cisco, a company in the technology sector, has also started an initiative in this. The tech giant had announced this only last month and now large-scale layoffs have started from Cisco. So-called Cisco employees have started searching for new jobs on TheLayoff.com and other professional networking sites. The company has also confirmed about the retrenchment.
4000 employees laid off
Tech sector giant Cisco has laid off 4,000 employees from here, starting the retrenchment. Cisco had announced layoffs in the last month i.e. November itself. Many Cisco employees have told about the layoff through messages written on social sites. The employees who are in the grip of retrenchment are appealing to people to help them by giving referrals in search of a new job.
Layoffs in two dozen companies
Jobs in many sectors including IT and Tech are going through a bad time of layoffs these days. About two dozen companies, including well-known companies like Twitter, Amazon, Meta and Zomato, have laid off employees in the past months. According to the report, the veteran tech company Cisco had also announced to reduce its workforce in November last month and now it has also started it.
Layoffs despite increase in revenue
About 4000 employees are being laid off in Cisco. According to reports, at present the number of employees in the company is around 83,000. Regarding retrenchment, it has been said that this retrenchment will be done under the Companies Act. Cisco CEO Chuck Robbins said during the announcement of layoffs that we are doing what we have the right to do. Significantly, in the quarterly earnings report (Q1 2023), Cisco has a total revenue of $ 13.6 billion, which is 6 percent more than last year. Despite which this retrenchment has started.
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