layoffs 2023 hundreds of workers at risk as cisco layoffs begin
Hundreds of workers are at risk in San Francisco Bay Area cities because Cisco Systems Inc. an American-based multinational digital communications technology company is set to lay off workers in October.
Cisco Systems Inc, which is headquartered in San Jose, California, also sent a warning notice to its employees. According to state filings, the layoff will affect employees in Milpitas, a city in Santa Clara County, California, and San Jose, a major technology hub in California’s Bay Area.
Layoffs 2023: How many workers are at risk?
Around 350 workers are at risk, according to documents from the California Employment Development Department. Cisco Systems will permanently layoff 123 employees from its Milpitas’ office. Another 227 employees will be laid off from the San Jose office. In a warning notice sent to the employees, the company said that the layoffs would take effect on October 16.
According to knowledgeable sources, around 50 positions at the Milpitas facility were cut, while 70 positions were cut at the San Jose facility.
Cisco has been laying off employees in recent months. Earlier this year, the company cut nearly 700 positions in the Bay Area. Cisco layoff affected 70 employees at the San Francisco facility.
Last year in November, the company announced its plan to fire 4,000 workers around the world.
Reportedly, Cisco laid off around 4,000 workers between January 2022 and January 2023.
The overall number of tech layoffs in the United States have increased in recent years. Earlier this year, San Francisco tech companies laid off more than 12,000 workers.
Earlier this summer, T-Mobile laid off 5,000 employees, Ford laid off 1,000 employees, Yellow Corporation laid off 30,000 workers, CVS Health laid off 5,000 workers, Biogen laid off 1000 workers, and Binance laid off 1000 workers.
Mass layoffs have become common in recent months. The tech industry, consumer services and ecommerce companies have seen major layoffs this year. Major tech companies laid off over 28,000 workers within a few days into the 2023 New Year, according to data from Layoffs. fyi, a website that documents tech company layoffs.