Cisco Systems Plans Global Workforce Reduction of Up to 14,000 Employees
Cisco Systems plans to reduce its global workforce by up to 14,000 employees, approximately 20% of its staff, as part of a strategic shift towards software and services. This decision has raised concerns in Italy, where the company employs over 500 people, particularly at its significant research facility in Vimercate. While layoffs are anticipated in the coming weeks, Cisco has announced a $100 million investment in Italy over the next three years.
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Cisco Systems is set to reduce its global workforce by up to 14,000 employees, approximately 20% of its nearly 75,000 staff. The announcement has raised concerns in Italy, where Cisco employs over 500 people, mainly in Vimercate.
The cuts are part of a strategic shift towards software and services, including IoT, cloud, data centers, and security, moving away from hardware. The company has not confirmed these reports, but layoffs are expected to be announced in the coming weeks.
The impact on the Italian workforce remains uncertain. Cisco Photonics, based in Vimercate, focuses on optical networks and is a significant research facility. The lab employs 150 people and has established itself as a leader in fiber optic technology. Cisco plans to invest $100 million in Italy over the next three years.
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