TechHR
ex
L&D
UNPLUGGED
Sphere
About Us • Contact Us
People Matters Logo
Login / Signup
People Matters Logo
Login / Signup
  • Current
  • Top Stories
  • News
  • Magazine
  • Research
  • Events
  • Videos
  • Webinars
  • Podcast

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

 

 

  • HotTopic
    LeadersSpeak
  • Strategy
    Leadership Csuite StrategicHR EmployeeRelations
  • Recruitment
    Employer Branding Appointments Permanent Hiring Recruitment
  • Performance
    Skilling PerformanceMgmt Compensation Benefits L&D Employee Engagement
  • Culture
    Culture Life@Work Diversity Watercooler SheMatters
  • Tech
    Technology HR Technology Funding & Investment Startups Metaverse
  • About Us
  • Advertise with us
  • Become a sponsor
  • Contact Us
  • Feedback
  • Submission Guidelines

Follow us:

Privacy Policy • Terms of Use

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

People Matters Logo
  • Current
  • Top Stories
  • News
  • Magazine
  • Research
  • Events
  • Videos
  • Webinars
  • Podcast
Login / Signup

Categories:

  • HotTopic
    LeadersSpeak
  • Strategy
    Leadership Csuite StrategicHR EmployeeRelations
  • Recruitment
    Employer Branding Appointments Permanent Hiring Recruitment
  • Performance
    Skilling PerformanceMgmt Compensation Benefits L&D Employee Engagement
  • Culture
    Culture Life@Work Diversity Watercooler SheMatters
  • Tech
    Technology HR Technology Funding & Investment Startups Metaverse
Cisco issues pink slips to over 4,000 employees: report

News • 14th Dec 2022 • 1 Min Read

Cisco issues pink slips to over 4,000 employees: report

Employee Relations

Author: Samriddhi Srivastava Samriddhi Srivastava
2.9K Reads
In the midst of the global wave of layoffs, Cisco has sacked nearly 4000 employees.

Cisco Systems Inc. has joined the list of companies that are firing their employees to cut costs. The company has reportedly kicked out nearly 4000 employees as part of the mass lay-off it announced last month.

On Monday, the employees were seen discussing new jobs, severance packages and tips on sites like TheLayoff.com and Blind. The company has notified them that they are being let go, the posts said.

A report in the Silicon Valley Business Journal read that the organisation took this step for a 'rebalancing' act while 'rightsizing certain businesses.'

In an exclusive conversation with People Matters, the company's spokesperson said, "We had a strong first quarter, and to capture the opportunities ahead, we continuously evaluate our business priorities to ensure we are investing for future growth and unlocking new opportunities while remaining financially disciplined."

"Along with our earnings results in November, we announced a rebalancing of investments including a limited business restructuring impacting our real estate portfolio and approximately 5% of our workforce starting in December. This is not about cost savings - in fact, we'll have roughly the same number of employees at the end of this fiscal year as we had when we started, and we will do everything we can to help place affected employees in other open roles. We didn't take this decision lightly, and we will offer that impacted extensive support, including generous severance packages," added Cisco's spokesperson. 

Top tech companies like Meta, Amazon, Twitter, Lenovo, Salesforce, and Adobe have already laid-off thousands of employees. 

Read More

Did you find this article helpful?


You Might Also Like

2023 Layoffs: A timeline of major job cuts

NEWS • 21st Mar 2023 • 14 Min Read

2023 Layoffs: A timeline of major job cuts

Employee Relations#Layoffs
JPMorgan to cut about 30 jobs in Asia Pacific

NEWS • 22nd Feb 2023 • 1 Min Read

JPMorgan to cut about 30 jobs in Asia Pacific

Employee Relations#Layoffs
McKinsey to slash 2,000 employees in major job cut

NEWS • 22nd Feb 2023 • 1 Min Read

McKinsey to slash 2,000 employees in major job cut

Employee Relations#Layoffs
NEXT STORY: Microsoft buys 4% stake in London Stock Exchange Group as part of 10-year deal

Trending Stories

  • design-thinking-hr

    How to spot sexism at work – and fight it

  • design-thinking-hr

    Stronger together: List of companies that have refused to la...

  • design-thinking-hr

    Top future skills in HR

  • design-thinking-hr

    2023 Layoffs: A timeline of job-cuts in top companies

Upcoming Event: View All

Event Title 29 Mar Webinar

2023 Employee Experience Trends

Free 11:00 AM AEST

People Matters Logo

Follow us:

Join our mailing list:

By clicking “Subscribe” button above, you are accepting our Terms & Conditions and Privacy Policy.

Company:

  • About Us
  • Advertise with us
  • Become a sponsor
  • Privacy Policy
  • Terms of Use

Contact:

  • Contact Us
  • Feedback
  • Submission Guidelines

© Copyright People Matters Media Pte. Ltd. All Rights Reserved.

Get the latest Articles, Insight, News & Trends from the world of Talent & Work. Subscribe now!
People Matters Logo

Welcome Back!

Enter your registered email address to login

Not a user yet? Lets get you signed up!

A 5 digit OTP has been sent to your email address.

This is so we know it's you. Haven't received it yet? Resend the email or then change your email ID.

People Matters Logo

Welcome! Let's get you signed up...

Starting with the absolulte basics.

Already a user? Go ahead and login!

A 5 digit OTP has been sent to your email address.

This is so we know it's you. Haven't received it yet? Resend the email or then change your email ID.

Let's get to know you better

We'll never share your details with anyone, pinky swear.

And lastly...

Your official designation and company name.