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