{"id":74914,"date":"2023-07-20T15:59:16","date_gmt":"2023-07-20T14:59:16","guid":{"rendered":"https:\/\/smartmileco.com\/cisco-says-this-weeks-layoffs-were-announced-last-november\/"},"modified":"2023-07-20T15:59:16","modified_gmt":"2023-07-20T14:59:16","slug":"cisco-says-this-weeks-layoffs-were-announced-last-november","status":"publish","type":"post","link":"https:\/\/smartmileco.com\/cisco-says-this-weeks-layoffs-were-announced-last-november\/","title":{"rendered":"Cisco says this week\u2019s layoffs were announced last November","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

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Networking giant Cisco Systems is laying off staff again, employees reported on social media this week. While the employees saw this as a fresh round of layoffs, Cisco said it was just enacting plans announced in November 2022.\u00a0<\/p>\n

Cisco confirmed to ComputerWorld that there was a round of layoffs this week but said they were part of the 4,100 job cuts it had previously announced.\u00a0<\/p>\n

“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,\u201d a Cisco spokesperson said.\u00a0<\/p>\n

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.<\/p>\n

The company said then that it was restructuring in order to rebalance the organization and enable further investment in key priority areas.<\/p>\n

\u201cDon't think of this as a headcount action that is motivated by cost savings. This really is a rebalancing,\u201d CFO Scott Herren said then.\u00a0<\/p>\n