Cisco Systems layoffs have spanned 3,500 employee job cuts since the coronavirus pandemic began, and the networking giant disputes a Washington Post report that says Cisco allegedly cut at least 8,000 jobs.
“We are always evaluating our growth areas and aligning our resources to meet customer demands and as a result since the pandemic began, we have restructured approximately 3.5k roles. In addition, we’ve hired thousands of people for new roles in other areas of the business.”
Cisco Systems CEO Chuck Robbins in August 2020 disclosed a plan to cut $1 billion in costs over the next few quarters, but he did not discuss potential layoff figures during the August 2020 disclosure.
Cisco, like many hardware companies, has been pushing hard toward cloud-centric subscription services. The effort includes organic R&D coupled with acquisitions. Recent moves include Webex collaboration platform updates; along with acquiring:
Cisco’s total revenue was $11.9 billion in its Q1 of fiscal 2021, down 9 percent. However, security-related revenues rose 6 percent during the quarter, Cisco said in a November 12, 2020 earnings statement.