The Margin: Here are the companies in the layoffs spotlight: Cisco joins Amazon, Salesforce, Intel, Google, HP

by | Jan 6, 2023 | Stock Market

From Cisco to Amazon, Salesforce, HP, Roku, Beyond Meat, Meta and Twitter, big names across a number of sectors have announced major layoffs in recent months. Cisco Cisco Systems Inc.
CSCO,
+3.07%
has begun previously announced layoffs, cutting nearly 700 jobs in Silicon Valley in December, according to filings with the state of California in January.

The layoffs span a number of departments at the networking giant and extend across various positions, including software and hardware engineering, program management, product design, marketing and more. According to the state filings, the number of employees impacted at the company’s San Jose, Calif., headquarters totals 371, while 222 employees are being cut in nearby Milpitas and 80 employees are being cut in Cisco’s San Francisco office. The notices said employees were notified in early December and were given a choice of an effective termination date of either February 1 or March 13. In November, Cisco announced it was planning a “limited business restructuring” that will adjust the networking giant’s real-estate portfolio and affect about 5% of its 80,000-strong global workforce, or some 4,000 people. Also Read: Cisco layoffs begin with hundreds of job cuts in California and more expected  “This is about rebalancing across the board,” said Cisco Chief Financial Officer Scott Herren at the time, adding that as many jobs will be added as reduced. “Our goal is to minimize the number of people who end up having to leave,” He …

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