Cisco’s second 2024 layoff: 5,600 jobs cut, shifts focus to AI growth

Cisco, a leading US tech company, has recently laid off thousands of employees in what marks its second significant job cut this year, according to a report by The Times of India.

A report by TechCrunch, as mentioned by the news report, reveals that approximately 5,600 jobs, representing 7 per cent of Cisco’s workforce, are being laid off as part of the company’s ongoing cost-management efforts amid declining demand. Cisco is also concentrating on investments in artificial intelligence (AI) as part of its strategy.