Cisco Systems Inc. is about to start a new round of layoffs due to overwhelming financial difficulties which are affecting the global trade. These job cuts are presented as a strategy which is needed to adapt to the ever-changing demands of customers. There is no specific information related to the number of people being affected by this campaign, out of 75000 that are currently holding their positions at Cisco Systems Inc.

As you might expect from such a large and global company, every employee which is to be affected by this campaign would be sufficiently aided for a reasonable amount of time.

Coronavirus has had a large impact on the technology industry and many high profile companies, Microsoft and Apple included have all reported that the outbreak had a significant impact on their business. Job cuts have become sort of a norm in these challenging times so this new report by Cisco Systems Inc. definitely doesn’t come as a surprise.

It is expected for the company’s revenue to drop up to 3.5% in the current quarter.

By doing this, Cisco Systems Inc. is shiftings its sales focus from selling server hardware, routers and other networking equipment and focusing more on software development and support.

Source: MarketWatch


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