Layoffs in the technology industry are continuing. Networking giant Cisco is planning to layoff around 10,000 employees.
Cisco to layoff up to 10,000 employees $CSCO
— MacroEdge (@MacroEdgeRes) February 9, 2024
Cisco To Fire "Thousands", Adding To Firehose Of Tech Layoffs Since Beginning Of 2024 https://t.co/ykSKJp042H
— zerohedge (@zerohedge) February 9, 2024
BREAKING: Cisco, $CSCO, is planning to cut "thousands of employees" in a massive corporate restructuring, according to Reuters.
The company is looking to focus on high-growth areas in its restructuring initiatives.
An announcement could come next week as the company prepares… pic.twitter.com/9XcGlbW8cv
— The Kobeissi Letter (@KobeissiLetter) February 9, 2024
Hopefully Cisco will fire all of their incompetent Indian engineers and tech support staff but it is doubtful that they will do that. Most likely they will fire the competent people because of “diversity” reasons and keep the incompetent people because they have the right skin color and/or gender. Their products and services will undoubtedly get worse because of these layoffs.
We see news about corporate layoffs happening everywhere yet the United States government is saying that we have almost full employment. It is a totally ridiculous assertion.
The number of layoffs increased 98% compared with the previous year, per NYP.
— unusual_whales (@unusual_whales) February 2, 2024
Here’s a list of some of the recent layoffs.
The past few weeks of layoffs: 👀
1. Twitch: 35% of workforce⁰2. Roomba: 31% of workforce⁰3. Hasbro: 20% of workforce⁰4. LA Times: 20% of workforce⁰5. Spotify: 17% of workforce⁰6. Levi's: 15% of workforce⁰7. Xerox: 15% of workforce⁰8. Qualtrics: 14% of workforce⁰9.…
— Steve Burns (@SJosephBurns) February 10, 2024
The economy is doomed. Jeremiah Babe will tell you.
