Cisco Layoffs 2024 Severance Package 2024

Cisco Layoffs 2024 Severance Package 2024. Cisco systems confirmed massive layoffs wednesday with plans to cut about 7 percent of its global workforce, which should cost up to $1 billion. The it hardware and software maker said the cuts, announced alongside its quarterly results on wednesday, will result in costs of $800 million related to severance packages and benefits.

Cisco says it’s cutting 5% of global workforce, amounting to over 4,000 jobs. So it’s likely we’ll see another bill passed onto.