The tech industry is going through a tough time right now. Big Tech companies including Meta, Amazon, and Twitter have laid off hundreds and thousands of employees in the last couple of months. Joining the list of tech companies is the networking major Cisco. As per the latest reports, the company has started laying off 5 per cent of its workforce.
Reports of Cisco considering firing employees surfaced last month. The networking company is said to have laid off around 5 per cent of the workforce, which is over 4000 employees. It is said that the layoffs are a part of "rebalancing" act while "rightsizing certain businesses".