2023 Layoffs: Networking giant Cisco lays off employees across business units
The internet and social media is recently flooded by the news of internal layoffs announced by networking giant Cisco Systems, as claimed by former and current Cisco employees.While the employees saw this as a fresh round of layoffs, Cisco said it was just enacting plans announced in November 2022.
“These recent notifications are part of the rebalancing effort we began in November 2022, which included a limited restructuring impacting our real estate portfolio and approximately 5% of our workforce,” a Cisco spokesperson said.
Last November, despite posting record quarterly revenue of $13.6 billion, Cisco announced it would be laying off around 5% of its 83,000 workers.
“Got to know that my name is in the layoff list through a known Senior Manager who was in a meeting with my Director and frankly speaking, it’s such a toxic and controlling environment and I personally don’t want to work in that team. Little stressed as the job market is very dull,” a sacked employee wrote.
Another user said software engineers are being impacted at the company.
According to verified Cisco employees on anonymous professional community forum Blind, some business units allegedly affected are Cisco Application Centric Infrastructure (ACI), Cisco Collaboration, Cisco Data Center Services & Solutions, Cisco Experience Centers (CxC), Cisco Security Business Group (SBG) Cisco Servers and Webex.
Cisco’s last round of layoffs occured in January-23, when the company revealed that it was cutting 673 jobs in the San Francisco Bay Area as part of its plan to maximize cost savings announced in 2022. The company at the time eliminated 371 jobs at its San Jose location, 222 jobs in Milpitas and 80 in San Francisco, with the majority of the layoffs impacting software engineers, technical engineers, hardware engineers, product managers and supervisors, according to Worker Adjustment and Retraining Notifications filed with the state of California in January.
The layoffs in November were part of a $600M restructuring plan. Cisco similarly implemented a restructuring plan in mid-2020 which included a substantial number of layoffs.
