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Cisco reportedly set to slash thousands of jobs in major restructuring
Techradar
Ā·
1y ago
Medial
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.
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CARS24 to Slash 120 More Jobs Amid Major Restructuring Drive
StartupTalky
Ā·
2m ago
Medial
CARS24 is undergoing a major restructuring, laying off an additional 120 employees from its non-core verticals after let going of 200 last month. The company is closing or scaling down these sectors, including its business-to-business automotive parts platform, Inspare, affecting 80 jobs. Affected employees are receiving severance packages and being encouraged to seek other roles. The startup, valued at $3.2 billion, is focusing on strengthening its core operations amid financial challenges.
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Procter & Gamble to Slash 7000 Jobs Amid Tariff Strain and Consumer Uncertainty
StartupTalky
Ā·
2m ago
Medial
Procter & Gamble plans to cut 7,000 jobs, about 6% of its global workforce, over two years due to rising costs and reduced consumer demand. Primarily affecting non-manufacturing roles, this restructuring aims to streamline operations. The decision follows weaker-than-expected sales and is part of a broader trend among large companies facing economic challenges, including those influenced by tariffs and AI adoption. Major firms like Amazon and Intel are also pursuing job cuts for similar reasons.
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Cisco lets go thousands of employees in second major layoffs this year
Economic Times
Ā·
10m ago
Medial
Tech conglomerate Cisco has laid off thousands of employees as it faces declining demand and the need to reduce costs. The company had previously announced job cuts in August affecting around 7% of its workforce. Cisco is focusing on high-growth areas and has allocated $1 billion to AI startups. The company is anticipating restructuring costs of up to $1 billion. The tech sector as a whole has experienced significant layoffs this year, with over 136,000 job cuts across 422 companies. Cisco is also shifting its focus towards subscription-based services and investing in emerging technologies and cybersecurity.
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Walmart to Slash 1,500 Corporate Jobs in Major Restructuring Move
StartupTalky
Ā·
2m ago
Medial
Walmart plans to cut around 1,500 corporate jobs as part of a restructuring initiative to streamline operations. The layoffs will affect divisions like Walmart Connect, e-commerce fulfillment in U.S. stores, and global technology operations. This move aligns with a broader trend where large corporations, including Amazon and Goldman Sachs, are downsizing due to increased AI adoption and economic uncertainties. Walmart employs over 2.1 million people globally but is restructuring to better fit long-term objectives.
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Intel to Slash 4,000 Jobs by Mid-July in Major Restructuring Push
StartupTalky
Ā·
28d ago
Medial
Intel plans to cut nearly 4,000 jobs by mid-July as part of a restructuring led by CEO Lip-Bu Tan. Most affected will be Oregon, where 2,400 positions will be eliminated. The layoffs come as Intel loses ground in the semiconductor and AI chip markets to companies like TSMC and Nvidia. This restructuring involves exiting the automotive chip sector, outsourcing marketing, and a focus on AI and edge computing to restore profitability.
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Cisco to lay off thousands more in second job cut this year, sources say
Economic Times
Ā·
1y ago
Medial
Networking equipment maker Cisco is set to cut thousands of jobs in a second round of layoffs this year as it shifts focus to higher-growth areas such as cybersecurity and AI. The number of affected employees is likely to be similar to the 4,000 laid off in February. This move comes as the company diversifies its offerings and aims for $1 billion worth of AI product orders by 2025. Cisco's decision follows a trend in the tech industry, with over 126,000 people laid off across 393 tech companies in 2023.
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Tech layoffs: Over 27,000 jobs lost in August 2024; Intel, Cisco and IBM lead the wave
Livemint
Ā·
11m ago
Medial
Tech layoffs in August 2024 impacted the industry as major players like Intel, Cisco, and IBM made significant job cuts. Over 27,000 workers lost their jobs across 40 companies. Intel plans to eliminate 15,000 jobs, while Cisco intends to reduce its workforce by 6,000. IBM is withdrawing its R&D operations from China, resulting in 1,000 job losses. German chipmaker Infineon plans to cut 1,400 jobs. Other notable layoffs include GoPro, Apple, Dell Technologies, ReshaMandi, and Brave. These layoffs highlight the ongoing volatility in the tech industry.
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Burberry to Slash 1700 Jobs Amid Ā£66M Loss
StartupTalky
Ā·
2m ago
Medial
Burberry plans to cut 1,700 jobs, about 20% of its global workforce, following a Ā£66M loss, as part of a restructuring initiative led by CEO Joshua Schulman. The focus shifts to heritage staples and high-margin leather accessories. While financial improvements were noted, such as a Ā£26 million adjusted operating profit for 2025, the brand faces challenges with declining global sales and economic uncertainties. The company is eyeing both cost-cutting and strategic refocusing to revive its fortunes.
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TNās Electronic Manufacturing Push: Apple Supplier Jabil Mulls INR 2,000 Cr Plant In Trichy
Inc42
Ā·
11m ago
Medial
Jabil, a supplier to companies like Cisco and HP, is set to establish a new facility in Trichy, Tamil Nadu. This move is expected to create 5,000 jobs and boost electronics manufacturing in the region. With Jabil's entry, Tamil Nadu becomes home to several major Apple suppliers, including Foxconn, Pegatron, Tata Electronics, and Corning. This investment by Jabil is seen as one of the first significant investments in Trichy and will contribute to the growth of the local economy.
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China's ByteDance to overhaul VR arm Pico as global demand declines
Economic Times
Ā·
1y ago
Medial
ByteDance's VR arm, Pico, is set to cut jobs and undergo a major overhaul due to decreased global demand for VR headsets. Much of Pico's software team will be integrated into ByteDance's product development team, while the hardware team will remain intact. Although the number of job cuts hasn't been specified, it is expected to impact "hundreds" of Pico staff worldwide. The restructuring is a setback for ByteDance, which acquired Pico in 2021 to compete with Meta's Quest VR headsets.
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