Cisco Workforce Reductions
5 hours ago
- #Cisco
- #earnings
- #layoffs
- Cisco announced Q3 FY26 earnings with a record revenue of $15.8 billion, up 12% year over year.
- The company will reduce its workforce by fewer than 4,000 jobs (less than 5%) in Q4, with most notifications starting May 14.
- Impacted employees will receive pro-rated FY26 bonuses, support for finding new roles, and one year of access to Cisco U courses.
- Strategic investments will be made in silicon, optics, security, and AI to drive future growth and innovation.
- Leadership expresses gratitude to departing employees and emphasizes focus and resilience for the team moving forward.