Cisco cuts another round of layoffs, expects to lay off 350 employees in October

According to news from this site on September 17, according to California state government documents, Cisco Systems, a technology company headquartered in San Jose, will permanently lay off hundreds of employees in the South Bay area next month.

Cisco Systems will lay off 227 employees in its San Jose office and 123 employees in its Milpitas office, according to a warning notice filed by the company last week. The layoffs will take effect on October 16, according to the company's filing. In August, Cisco Systems reported revenue of $12.6 billion for the fiscal year ended July 29. yuan), up 7% from last year, and repurchased $2.8 billion of stock in the fourth quarter.

At the end of 2022, Cisco Systems laid off more than 4,000 employees at one time, accounting for 5% of its total workforce, one of the largest layoffs of the year. At the time, Chief Financial Officer Scott Herron said on an earnings call that the layoffs were "a rebalancing" and not motivated by cost savings. In March, the company laid off another 673 employees at its offices in Milpitas, San Francisco and San Jose.

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