Cisco to Announce Thousands of Layoffs Next Week
Company's Second Round of Job Cuts This Year
Nearly 2 lakh people have lost their jobs in the tech sector globally
Thousands of Cisco employees will be affected by a new layoff round which could be announced next week, according to a Reuters report. The number of people affected could be similar to or slightly higher than the 4000 employees Cisco laid off in February.
The technology company announced Wednesday that it plans to lay off 5% of its global workforce, amounting to thousands of employees. Reuters reported that Cisco plans to eliminate thousands more jobs in a second round of layoffs this year.
Estimates say globally nearly 2 lakh people have lost their jobs in the tech sector. Cisco had last month reportedly decided to lay off five per cent of its employees.
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