August 14, 2024 - The San Jose, California-based company estimates it will recognize pre-tax charges of up to $1 billion in connection with the restructuring plan, with $700 million to $800 million of these being recognized in the first quarter. The layoffs allow Cisco to "maintain focus on growth areas such as software, services, AI and cybersecurity, while balancing its financial obligations and reducing the percentage of hardware in its product mix", according to Michael Ashley Schulman, chief investment officer at Running Point Capital.

August 29, 2024 - Cisco Systems has revealed plans to cut 7% of its global workforce as part of a major restructuring initiative aimed at driving operational efficiency and investing in key growth areas.

August 13, 2024 - The move to reduce its workforce, which the company refers to as "limited restructuring," is said to be so that the company can focus more on its artificial intelligence (AI) efforts.

August 16, 2024 - Cisco has announced it will be laying off 7% of its workforce or 6, 000 employees to restructure its business plan and pivot towards AI.

September 19, 2024 - Despite the job cuts, CEO Chuck ... India report. This restructuring is intended to position Cisco for long-term growth by reallocating resources to areas with the potential for expansion....

November 16, 2022 - The San Jose-based networking giant plans to cut more than 4,100 jobs, becoming on the latest tech giant to announce layoffs.

February 15, 2024 - Speaking to analysts after the ... restructuring plan, we expect to impact approximately five percent of our global workforce with estimated pre-tax charges of approximately $800 million.”...

February 15, 2024 - Cisco plans to lay off 5% of its workforce as part of a restructuring plan, the company said Wednesday in an SEC filing.

August 18, 2024 - Cisco also recently acquired cybersecurity firm Splunk for $28 billion.As part of the restructuring, Cisco plans to combine its networking, security and collaboration departments into a single organisation.

May 29, 2025 - Cisco today said it will take a $600 million charge associated with layoffs and restructuring of its businesses.

November 17, 2022 - “Cisco currently estimates that ... and other costs,” the tech company said. The restructuring program could begin in short order, potentially within weeks or a few months....

July 19, 2023 - Cisco saw its stock drop by as ... for the telecom sector, laid out a restructuring plan that includes a voluntary early retirement program and layoffs....

Cisco Systems confirmed massive layoffs Wednesday with plans to cut about 7 percent of its global workforce, which should cost up to $1 billion.

February 12, 2024 - Cisco could cut thousands of jobs amid a restructuring, according to a new report. The move would follow similar efforts by other vendors affected by a downturn in network operator spending.

November 16, 2022 - The company said the restructuring plan will begin in the second quarter of fiscal year 2023. "This is not about reducing our workforce - in fact we will have roughly the same number of employees at the end of this fiscal year as we had when ...

In total, at the end of this year, Cisco will have laid off 12% of its work force. The company anticipates it will pay nearly $2 billion on these two restructuring measures—$654 million for February’s layoff and an anticipated $1 billion for September’s.

August 15, 2024 - Tech giant Cisco plans to lay off 7% of its global workforce as it seeks to invest in key growth areas such as artificial intelligence while also driving more efficiencies in its business, according to a Wednesday securities filing.

August 12, 2016 - LR is Layoffs in CIsco speak but, it stands for Limited Restructuring.

it says: Along with our Q1 results, we also announced a limited business restructuring that will allow us to rebalance investments in key priority areas and will impact approx 5% of the workforce.