(Reuters) – According to sources familiar with the subject, Cisco (CSCO.O) will lose thousands of positions in a second round of layoffs this year as the US networking equipment giant switches its attention to higher-growth sectors such as cybersecurity and artificial intelligence.
The number of workers impacted might be close to or somewhat more than the 4,000 employees put off by Cisco in February, according to sources who were not allowed to talk publicly. The announcement is expected as early as Wednesday with the company’s fourth-quarter results.
Prior to the company’s announcement, Reuters exclusively reported on the job cuts announced by San Jose, California-based Cisco in February.
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