San Jose tech giant Cisco is gearing up to lay off thousands of employees in its latest reorganization effort.
While the exact head count is pending confirmation, sources familiar with the matter confirmed to Reuters on Friday that an official announcement is imminent, potentially aligning with the company’s earnings call scheduled for Wednesday.
As of the fiscal year 2023, Cisco’s workforce stood at 84,900.
At the end of 2022, the company reduced its workforce by about 4,000 employees, constituting 5% of its total workforce. The next year, an additional 350 employees were laid off from its South Bay headquarters.
In November, Splunk, a cybersecurity firm and data software company headquartered in San Francisco, announced it was laying off approximately 7% of its global workforce — about 537 employees — ahead of its $28 billion acquisition by Cisco.
Cisco did not immediately respond to a request for comment.
Numerous technology firms have conducted layoffs in recent months, including DocuSign, Amazon, Snap, Okta, PayPal, Block, Zoom, Salesforce, eBay and Google.
