Cisco confirms it will lay off 5 per cent of workforce as product revenues down

The tech giant, whose customers are still digesting orders received following the clearing of the massive backlog, saw weak product revenues in Q2 2024. Cisco also confirmed that it would be cutting jobs globally to adjust expenses focus on key growth areas, CEO Chuck Robbins told investors during the company’s fiscal Q2 2024 earnings call on Wednesday evening.

clock • 3 min read
Cisco confirms it will lay off 5 per cent of workforce as product revenues down

Cisco Systems saw "greater degrees of caution" related to product ordering during its fiscal Q2 in 2024, which lowered product revenues. At the same time, the tech giant confirmed that it would be ...

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