Cisco to cut 4,000-plus jobs, this is what CEO said on layoffs

Networking giant Cisco is the latest to join job cuts at technology companies, according to a report in the Silicon Valley Business Journal. The company is reportedly laying off over 4,000 employees, or about 5 percent of its workforce. The job cuts come after the company posted its largest quarterly revenue total in its history during the first fiscal quarter of 2023.

Cisco chairman and CEO Chuck Robbins though did not share any details on job cuts, he did confirm the same. We would “be reluctant to go into a lot of detail here until we’re able to talk to them. I would say that what we’re doing is rightsizing certain businesses,” he said. “You can just assume that we’re going to — we’re not actually — there’s nothing that’s a lower priority, but we are rightsizing certain businesses,” he told the analysts.