**MSN **
https://www.msn.com/en-us/money/companies/cisco-is-the-latest-healthy-tech-company-to-cut-jobs-with-4000-layoffs/ar-BB1ijBus - Cisco is reducing its workforce by 5%, amounting to approximately 4,000 jobs.
- The layoffs are part of the company's plan to realign and invest in key priority areas.
- Cisco is expanding its partnership with Nvidia to help firms build AI infrastructure.
- The cuts were announced alongside quarterly results, resulting in $800 million in costs for severance and benefits.
- Cisco aims to realign its organization and enable further investment in priority areas. CEO Chuck Robbins emphasized aligning investments with future growth opportunities.
**CNBC TV18 **
https://www.cnbctv18.com/business/companies/cisco-to-lay-off-thousands-more-in-second-job-cut-this-year-19457838.htm - Cisco plans to cut thousands of jobs in a second round of layoffs in 2024, similar to or slightly higher than the 4,000 layoffs in February.
- The company aims to refocus on higher-growth areas like cybersecurity and AI amid sluggish demand.
- The layoffs are expected to be announced alongside the company’s fourth-quarter results.
- Cisco employed around 84,900 people as of July 2023.
- The company is diversifying with moves such as a $28-billion buyout of cybersecurity firm Splunk.
- Over 126,000 people have been laid off across 393 tech companies since the start of 2024.
**BNN Bloomberg **
https://www.bnnbloomberg.ca/business/technology/2024/08/09/cisco-to-cut-thousands-of-jobs-in-new-layoff-round-reuters-says/ - Cisco plans to eliminate thousands of jobs in a second round of layoffs in 2024, focusing on faster-growing areas like cybersecurity and AI.
- The layoffs follow a previous round in February, where Cisco cut around 4,000 jobs due to a slowdown in corporate tech spending.
- Cisco had nearly 85,000 employees at the end of fiscal 2023.
- The tech industry is experiencing uneven demand, with traditional IT giants struggling despite some growth in AI-related areas.
- Cisco’s shares fell by 1.3% following the announcement.
- The company is transitioning towards providing networking services and software, rather than focusing solely on hardware sales.
**MarketWatch **
https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-steady-after-market-bounce-back/card/cisco-s-stock-turns-lower-as-report-says-more-job-cuts-could-be-coming-3JSSVsMMAKRr0YL699ol?mod= - Cisco’s stock dropped after reports of additional job cuts.
- The company could eliminate thousands more jobs beyond the 4,000 layoffs announced earlier in 2024.
- The announcement is expected during Cisco's upcoming quarterly results release.
- Cisco's shares, which had risen slightly earlier in the session, ended the day down by 0.8%.
- Cisco declined to comment on the reports of further job cuts.
**U.S. News & World Report **
https://money.usnews.com/investing/news/articles/2024-08-09/exclusive-cisco-to-lay-off-thousands-more-in-second-job-cut-this-year-sources-say - Cisco is planning a second round of layoffs in 2024, which may match or exceed the 4,000 job cuts from February.
- The company employed around 84,900 people as of July 2023.
- Cisco is focusing on higher-growth areas such as cybersecurity and AI.
- The announcement of these layoffs is expected alongside Cisco’s fourth-quarter results.
- Cisco's shares fell nearly 1% after the news broke.
- The layoffs are part of Cisco's broader strategy to shift away from one-time equipment sales and focus more on subscription services and AI-related investments.
**Data Center Dynamics **
https://www.datacenterdynamics.com/en/news/cisco-plans-thousands-more-layoffs-this-year/ - Cisco plans to lay off thousands more employees in a second round of cuts in 2024.
- The number of employees affected could be similar to or slightly higher than the 4,000 laid off in February.
- Cisco employed 84,900 people as of July 2023, not accounting for the previous layoffs.
- Shares in Cisco fell by 1% on the news, and the stock is down 9% year-to-date.
- Cisco launched a $1 billion AI fund to invest in startups, and has made 20 AI-focused acquisitions and investments in the past few years.
- The layoffs are part of broader cost-cutting measures across the tech industry, following significant investments in AI.
**Bloomberg **
https://www.bloomberg.com/news/articles/2024-08-09/cisco-to-cut-thousands-of-jobs-in-new-layoff-round-reuters-says - Cisco is planning to cut thousands more jobs in a new round of layoffs in 2024.
- This follows a previous round of 4,000 layoffs announced in February.
- The job cuts are part of Cisco’s strategy to shift focus to faster-growing sectors like cybersecurity and AI.
- The layoffs could be announced as early as next week, along with the company’s quarterly results.
- Cisco shares were down slightly after the news.
**CRN **
https://www.crn.com/news/cloud/2024/cisco-to-lay-off-around-4-000-employees-report - Cisco will lay off around 4,000 employees in its second round of job cuts in 2024.
- The layoffs could match the number of employees affected in February.
- Cisco is focusing on artificial intelligence and expects to generate $1 billion in AI product orders by 2025.
- Cisco previously announced a $1 billion fund to invest in AI startups.
- The layoffs are part of a broader trend in the tech industry where companies are cutting jobs to realign costs with investments in AI.
- Cisco's restructuring is part of an effort to adjust to the macroeconomic environment and focus on AI-related growth opportunities.