After Twitter and Meta, Cisco starts laying off over 4,000 employees

Networking major Cisco is reportedly starting to lay off 4% of its workforce, or more than 4,000 workers, as it joins the Big Tech layoff season.

The networking giant Cisco has been preparing to let go of over 4,000 workers as part of a "rebalancing" and "rightsizing certain companies," according to reports that initially surfaced last month.

According to Silicon Valley Business Journal, affected employees posted about their job losses at the company on TheLayoff.com and the Blind portal.

Impacted by Cisco layoffs!" a employee of the company wrote on Blind. "Looking for immediate (software engineering) referrals. Any help would be sincerely appreciated. Thanks," the Aaffected employee added.

The report claims that some people requested advice on finding new jobs and others requested details on severance compensation.

However, Cisco did say in a statement that it "didn't take this choice lightly" and that it would provide individuals affected with considerable support, including significant severance compensation.

Cisco reported $13.6 billion in revenue in its first quarter earnings report (Q1 2023) last month, an increase of 6% over the previous year.

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Cisco's chairman and CEO, Chuck Robbins, promised to hold detailed info about layoffs "Be hesitant to go into great detail until we can speak with them. What we're doing, in my opinion, is rightsizing some businesses ".

"You can just assume that we're going to -- we're not actually -- there's nothing that's a lower priority, but we are rightsizing certain businesses," he had told the analysts.

Cisco Chief Financial Officer Scott Herren had described the move as a "rebalancing" act.

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