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Cisco’s Total Layoff Casualty Count Almost Hits 10,000
Cisco’s latest round of cuts echoes an eerily similar action made in 2022, when the technology handed out pink slips to 5,000 workers ahead of its $28 billion acquisition of Splunk. The company justified the 2022 layoffs as part of a “rebalancing act”, and an effort they were taking to “rightsize” certain businesses.
Unfortunately for tech workers, serial layoffs aren’t unique to Cisco. As consumer demand continues to fluctuate, other major tech firms like Google and Amazon have recently issued multiple rounds of cuts – with Google reporting to have spent $700 million on layoffs this year alone.
These developments raise big tech’s layoffs to a total of 34,560 in 2024 according to layoff tracker layoffs.fyi, sparking concerns around job insecurity across the tech sector. However, while clerical roles face the biggest risk of being automated, as companies like Cisco place more of an emphasis on AI, greater demand is being created for candidates with AI skills.
With the labor market being notoriously unpredictable, it is uncertain how future trends will shape the employment landscape. But for workers looking to safeguard their future careers, upskilling yourself with AI skills is a great place to start.
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