In November 2022, Cisco announced during an earnings call a restructuring that impacted roughly 5% of its workforce which lead to $600 million in severance and other charges.
The San Jose, California-based company has a total employee count of 84,900 as of fiscal 2023, according to its website. The company is still deciding on the total number of employees to be affected by the layoffs, one person said.
Notable major technology and media corporations in the United States have begun 2024 with a fresh round of job cuts, with reasons citing the global economic crisis that is expected to remain persistent in the new year.