7% laid off | Cisco becomes latest business to cite AI amid layoffs—are workers really safe from the bots?

Another one bites the dust. Or should I say, another several thousand.

Cisco has become the latest in a string of big tech companies to announce major layoffs to the workforce, including a shift to AI among the reasons for the cull.

Executives announced the tech giant plans to trim 7% of its workforce. No specific numbers were given, but with a workforce reportedly sitting at around 85,000 employees as of July 2023 (and following a 5% headcount reduction in February), well over 5,000 workers are set to be affected.

Those managing to keep up to date with tech industry layoffs would be forgiven for feeling like Bill Murray’s Phil in Groundhog Day—only with less stepping in puddles and gradual romancing of Andie MacDowell, and more platitudes about ‘growth’ or a ‘winning’ strategy.