Cisco Systems Inc. will lay off 350 employees in Silicon Valley next month, in the tech giant's latest round of job cuts.
Cisco Systems Inc. will lay off 350 employees in Silicon Valley next month, in the tech giant’s latest round of job cuts.
According to a filing with California’s Employment Development Department last week, Cisco CSCO, -0.59% will lay off 227 people in San Jose, and another 123 in nearby Milpitas, Calif., effective Oct. 16. Last year, the networking company announced it would slash about 5% of its workforce, roughly 4,000 jobs, and laid off nearly 700 more Silicon Valley employees in March, according to state filings.
In August, Cisco reported a strong gain in annual revenue, due largely to increased prices, though its outlook for 2024 was cautious.
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