Cisco Systems announced on Wednesday that it would lay off 1,100 employees. The company, based in San José, California, had announced 5,500 job cuts in August 2016.
After surprising the industry and announcing 5,500 cuts jobs in August 2016, Cisco has dealt yet another shocker. The multinational company based in San José, California, announced on Wednesday, May 17, that it would lay off an additional 1,100 employees soon.
Initial reports had suggested that the company would, in total, lay off about 14,000 employees, but Cisco later made an official announcement clarifying the numbers.
CEO Chuck Robbins said that the reason behind such massive job cuts was a slowdown in the spending of the federal government, reported UPI. This move has also been called an extension of the company’s restructuring plan, which led to announcement of 5,500 sackings last year.
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