Cisco to cut overall workforce by more than 4,000

Layoffs are rippling through the tech world, with Cisco the latest major employer to announce it’s scaling back its workforce. Cisco told The News and Observer it intends to cut 5% of its overall workforce through a limited restructuring, which should impact more than 4,000 positions.

The California-based conglomerate employs around 5,000 people in the Triangle. It built its Research Triangle Park campus in the 1990s, which currently includes more than 10 corporate office buildings.

In an emailed statement, Cisco spokesperson Robyn Blum did not specify if the broader cuts will impact local workers.

“This decision was not taken lightly, and we will do all we can to offer support to those impacted, including generous severance packages, job placement services and other benefits wherever possible,” she said.

Despite the upcoming layoffs, Blue noted the company will still “have roughly the same number of employees at the end of this fiscal year as we had when we started.”

Cisco had 83,300 full-time workers as of July, according to its latest annual financial filing to the US Securities and Exchange Commission.

This story was produced with financial support from a coalition of partners led by Innovate Raleigh as part of an independent journalism fellowship program. The N&O maintains full editorial control of the work.

Open Source

Do you enjoy Triangle tech news? Subscribe to Open Source, The News & Observer’s weekly technology newsletter and look for it in your inbox every Friday morning. Sign up here.

Brian Gordon is the Innovate Raleigh reporter for The News & Observer and The Herald-Sun. He writes about jobs, start-ups and all the big tech things transforming the Triangle.

.

Leave a Comment

Your email address will not be published. Required fields are marked *

%d bloggers like this: