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Cisco to lay off thousands of employees
  + stars: | 2024-02-14 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +2 min
CNN —Technology company Cisco announced Wednesday that it plans to lay off 5% of its global workforce, amounting to thousands of employees, as part of a company-wide restructuring. Cisco joins a long list of tech companies that have announced workforce cuts in recent months. Last year, the company announced it would acquire machine learning and cybersecurity company Splunk in a deal valued at $28 billion. “The combination of these two innovative leaders makes them well positioned to lead in security and observability in the age of AI,” Cisco said in a September press release announcing the deal. All told, more than 34,000 tech employees have been laid off since the start of 2024, according to data compiled by Layoffs.fyi.
Persons: , Chuck Robbins, ” Cisco, Layoffs.fyi Organizations: CNN — Technology, Cisco, Google, PayPal
A new mergers and acquisitions advisory firm launched last year by former Centerview Partners dealmakers has scored a big win by advising Cisco Systems on its $28 billion acquisition of cybersecurity firm Splunk. Based in Palo Alto, California, Tidal Partners was started by technology bankers David Handler and David Neequaye. “We’ve known David (Handler) and his partner David (Neequaye) for a very long time. Handler and Neequaye helped launch Centerview’s technology advisory group in 2008. The group went on to advise other major technology companies, including Cisco, Qualcomm Inc and Twilio.
Persons: Centerview Partners dealmakers, David Handler, David Neequaye, Qatalyst, Morgan Stanley, Splunk, Handler, , David, we’ve, Chuck Robbins, Tidal’s, Neequaye, Bloom, Centerview Organizations: Centerview Partners, Cisco Systems, Tidal Partners, Cisco, Qatalyst Partners, NDS Group, AXOM Partners, Reuters, Qualcomm Inc, G2K, UBS Group Locations: Palo Alto , California, Centerview
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