It was rumored last month that Cisco would be laying off around 5% of its employees, or about 4,000 individuals. According to the Silicon Valley Business Journal, the corporation is “rightsizing” key operations as part of an effort to “rebalance.”
According to the article, Cisco’s Chairman and CEO Chuck Robbins “said he was hesitant to provide specifics on layoffs until we had a chance to speak with affected workers. We are, if I may use the term, “rightsizing” certain companies.” The CEO and Chairman are quoted as stating, “You can make the assumption that we’re going to-we’re not actually-nothing there’s that’s a lower concern. However, we are rightsizing some companies,” in the report.
