Cisco To Lay Off Thousands Of Employees In Second Job Cut This Year; Job-Cut Announcement Could Come As Early As Wednesday
Portfolio Pulse from Benzinga Newsdesk
Cisco is planning to lay off thousands of employees in its second job cut this year, with the announcement potentially coming as early as Wednesday, according to Reuters citing sources.
August 09, 2024 | 2:56 pm
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Cisco is planning to lay off thousands of employees in its second job cut this year, with the announcement potentially coming as early as Wednesday.
The announcement of significant layoffs typically signals cost-cutting measures, which can be perceived negatively by the market in the short term. This is Cisco's second job cut this year, which may raise concerns about the company's financial health and future growth prospects.
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