Shulou(Shulou.com)11/24 Report--

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com, January 9 (Xinhua)-- Internet giant Cisco has laid off nearly 700 employees in the Bay area, including 80 in its San Francisco office.

Cisco said it had laid off a total of 673 employees as part of a "limited business restructuring" announced last November, according to SFGATE. At its headquarters, 371 employees were laid off, including two Cisco vice presidents, the report said. At the Milpitas office, 222 employees, mainly engineers and technical staff, were laid off. However, it is not clear whether Cisco will make more rounds of layoffs.

The Internet giant is reported to be cutting 5 per cent of its workforce, or more than 4000, with more than 52 per cent of its global workforce outside the US.

CTOnews.com learned that Cisco said in a statement, "We did not make this decision easily and we will provide a wide range of support to those affected, including generous severance payments." In its first-quarter 2023 results, Cisco reported revenue of $13.6 billion, up 6 per cent from a year earlier.

Chuck Robbins, chairman and CEO of Cisco, did not disclose any details about the layoffs, saying only that some businesses were being rationalized.

As the two giants in the global network equipment field, Cisco "got into trouble" with Huawei 20 years ago over patent infringement and banned the sale of Huawei equipment in the United States. Huawei then promoted the establishment of its own network authentication system and became well known to the outside world. Huawei has many competitors in the United States, but in the 58-page investigation report of the permanent Special Intelligence Committee of the House of Representatives a decade ago, the only competitor was Cisco.

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