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

CTOnews.com, September 17 (Xinhua)-- San Jose-based technology company Cisco Systems will permanently lay off hundreds of employees in the South Bay area next month, according to California state government documents.

Cisco Systems will lay off 227 employees at its San Jose office and 123 at its Milpitas office, according to a warning notice filed last week. According to the company's documents, the layoffs will take effect on October 16.

In August, Cisco Systems reported revenue of $12.6 billion for the fiscal year ended July 29 (CTOnews.com Note: currently about 91.728 billion yuan), up 7% from last year, and bought back $2.8 billion of shares in the fourth quarter.

At the end of 2022, Cisco Systems laid off more than 4000 employees at once, accounting for 5% of its total workforce, which was one of the largest layoffs of the year. At the time, chief financial officer Scott Herren said on the earnings call that the layoffs were "a rebalancing" and not motivated by cost savings. In March, the company laid off another 673 employees at its offices in Milpitas, San Francisco and San Jose.

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