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Aug 9 (Reuters) - Cisco (CSCO.O) will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said.
The number of people affected could be similar to or slightly higher than the 4,000 employees Cisco laid off in February, and will likely be announced as early as Wednesday with the company's fourth-quarter results, said the sources, who were not authorized to speak publicly.
Reuters exclusively reported the job cut that San Jose, California-based Cisco announced in February, prior to the company announcing it.
The company employed around 84,900 people as of July 2023, according to its annual filing. That number does not account for the February layoffs.
Cisco did not immediately respond to a request for comment.
https://www.reuters.com/technology/cisco-lay-off-thousands-more-second-job-cut-this-year-sources-say-2024-08-09/
7% of global workforce confirmed. 5% cut in February 2024.
As of Aug 15th 10:20am PST, it does not seem like any emails have been sent out about who is being laid off