U.S. tech giant Cisco has let go of thousands of employees, reducing its headcount by 7%, or around 5,600 employees after earlier layoffs of about 4,000 in February.
Cisco's layoffs, which also impact the Talos Security unit, were described by employees as a shift to 'the most toxic environment' they had experienced at work.
In their August statement, Cisco indicated that these layoffs were intended to help them 'invest in key growth opportunities and drive more efficiencies,' despite recent strong earnings.
Chuck Robbins, Cisco's CEO, received close to $32 million in total compensation during 2023, raising questions about executive pay amidst significant workforce layoffs.
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