Catherwood LibraryILR School

Cisco Systems, a leading digital communications and technology company, has announced layoffs that will affect thousands of workers. This is the second round of major layoffs in the past two years for the company, with both rounds affecting over four thousand employees respectively. The first round of layoffs occurred in 2022, and Cisco Systems cut five thousand positions. The company stated that the large-scale reductions allow for the reorganization of the company structure, and set the company up for long-term success. Numerous major technology companies have laid off workers in the past few years, and layoffs are a growing trend in the industry. Layoffs allow tech companies to increase total profits and raise stock prices. Layoffs also allow these companies to shift focus on generative AI and new technological developments.