According to regulatory filings to state and local officials, approximately 730 jobs will be affected across the region. That includes 447 positions in San Jose, 174 in Milpitas and 108 in San Francisco.
The San Jose company plans to reduce more than 4,200 positions as part of its broader reorganization effort. The layoffs in the Bay Area are scheduled for April 15, as per documents submitted to the Employment Development Department.
In its latest quarterly report published earlier this month, Cisco reported $12.8 billion in revenue, a 6% drop compared with the previous year. It also adjusted its annual revenue forecast to a range of $51.5 billion to $52.5 billion, down from the earlier prediction of $53.8 billion to $55 billion.
“We continue to align our investments to future growth opportunities. Our innovation sits at the center of an increasingly connected ecosystem and will play a critical role as our customers adopt AI and secure their organizations,” Cisco CEO Chuck Robbins stated in a statement.
As of last year, Cisco had 84,900 employees. The current wave of layoffs follows a previous cut of about 4,000 employees, constituting 5% of its total workforce, at the finish of 2022. Last year, it laid off 350 additional employees from its South Bay headquarters.
Splunk, a cybersecurity firm and data software company headquartered in San Francisco, also laid off approximately 7% of its global workforce — about 537 employees — ahead of its $28 billion acquisition by Cisco.
Numerous technology companies have conducted layoffs in recent months, including DocuSign, Amazon, Snap, Okta, PayPal, Block, Zoom, Salesforce, eBay and Google.
Reach Aidin Vaziri: avaziri@sfchronicle.com
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