Networking giant Cisco Systems announced plans on Wednesday to lay off approximately 7% of its global workforce as the company shifts focus towards high-growth areas like artificial intelligence and cybersecurity. This marks Cisco's second major round of job cuts in 2024.
While Cisco did not specify the exact number of positions to be eliminated, the 7% reduction could affect around 6,000 employees based on its reported workforce of 84,900 as of July 2023. The company previously laid off 4,000 workers in February.