Cisco reportedly set to slash thousands of jobs in major restructuring
Network giant Cisco is reportedly planning a significant restructuring that may involve thousands of layoffs, as it aims to realign itself with sectors that offer better growth prospects. The announcement could come before the company's earnings call on February 14 and could impact a significant portion of its workforce, which currently stands at around 84,900 employees. Other tech companies, including Amazon, Google, and Microsoft, have also recently undergone layoffs due to economic challenges. Cisco's restructuring comes amid a projected slowdown in demand for its networking equipment.