The American technology company Cisco will cut about 5,600 employees, which is 7% of the company's total workforce.

Earlier, in February 2024, the company fired 4,000 people. According to employees, Cisco until recently refused to say who would be affected by the layoffs, and did so almost a month late without explaining why. One employee said that the work environment at Cisco was the "most toxic" in his experience.

Cisco said in August that a second wave of layoffs this year would allow the company to "invest in key growth opportunities and improve efficiency." Meanwhile, the company released its annual earnings report saying 2024 was "the second best year ever." the company's revenue was about 54 billion dollars.

The cuts also reportedly affected Talos Security, the company's threat analysis and security research division.

Cisco CEO Chuck Robbins received about $32 million in total executive compensation in 2023, according to company filings.

A Cisco spokesman declined to comment on the situation and did not say whether the company plans to reduce its compensation packages amid the massive layoffs.