Cisco announces new round of layoffs, affecting about 5,600 employees

Technology giant Cisco announced a new round of layoffs this year, which is expected to affect about 5,600 employees, accounting for 7% of its global workforce. This is the second round of layoffs in 2024, following the layoffs of more than 4,000 employees in February. Although the company hinted at layoffs in August, it did not disclose the specific departments affected. Employees have been in uncertainty until the company officially announced the news in mid-September.