U.S. tech giant Cisco has laid off thousands of employees in its second round of job cuts in 2024.
In August, the technology and networking company announced plans to reduce its workforce by 7%, or approximately 5,600 employees, following a previous layoff of around 4,000 workers in February. According to TechCrunch, Cisco employees claimed that the company withheld information about who would be impacted until September 16, offering no explanation for the delay. One employee described the work environment at Cisco as the “most toxic” they had experienced.
It has also been reported that the layoffs affect Talos Security, Cisco’s threat intelligence and security research division.
In an August statement, Cisco said the job cuts were aimed at allowing the company to “invest in key growth areas and improve efficiencies.” On the same day, Cisco released its full-year earnings report, revealing that 2024 was its “second strongest year on record,” with nearly $54 billion in annual revenue.
Cisco CEO Chuck Robbins earned nearly $32 million in total compensation in 2023, according to company filings.
When contacted, Cisco spokesperson Lindsay Ciulla declined to comment on the layoffs or whether the executive leadership team would reduce their compensation in light of the job cuts.
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