Cisco Systems office building at 3800 Zanker Road in north San Jose.
SAN JOSE — Cisco Systems Inc. said it plans to cut more than 700 technology jobs in the Bay Area, amid new layoffs that come as the tech industry's post-coronavirus economic woes have yet to ease. This is an ominous sign that it is not.
The tech giant's latest layoffs will affect Cisco employees in San Jose, Milpitas and San Francisco, according to an official warning notice sent by the company to the state Employment Development Department.
Cisco plans to cut about 729 jobs in the Bay Area, according to the warning letter. Details of Cisco's Bay Area job cuts include:
— San Jose, cutting 447 jobs.
—Milpitas, 174 people laid off.
— San Francisco, cutting 108 employees.
This number is an estimate based on this news organization's review of three warning letters sent by Cisco to state EDD and local government and workforce agency officials. The Cisco WARN letter contains an itemized set of unemployment information based on job title, but not an overall total.
San Jose-based Cisco notified employees of the pending layoffs on Feb. 15, according to the warning notice.
According to EDD documents, the layoffs are scheduled to take effect on April 15 of this year.
Several technology companies other than Cisco have announced plans to cut jobs in recent weeks.
Here are the five latest layoffs that came to light before Cisco's latest layoffs for Bay Area technology workers.
— Instacart cuts 105 jobs in San Francisco.
— Riot Games lays off six people in Redwood City.
— Aurora Solar cuts 115 jobs in San Francisco.
— Grammarly, 82 layoffs in San Francisco.
— Pure Storage lays off 81 people in Santa Clara.
Tech companies have announced plans to cut more than 37,100 jobs in the Bay Area starting in early 2022, when the current tech job cuts cycle begins.
Tech companies have reported to EDD their intention to cut more than 5,200 jobs in the Bay Area by 2024, according to a compilation of state labor department WARN records by this news organization.
In 2023, the technology company revealed plans to cut about 21,600 jobs in the nine-county region. In 2022, more than 10,300 technology jobs will be cut in the Bay Area.
Including Cisco's layoffs, the five tech companies in the Bay Area that have made the most layoffs are:
— Facebook app owner Meta Platforms cuts 5,195 jobs in Menlo Park, San Francisco, Burlingame, Sunnyvale and Fremont.
— Google cuts 2,457 jobs at Mountain View, Moffett Field, San Bruno, Palo Alto and San Francisco.
— Cisco Systems lays off 1,729 people in San Jose, Milpitas and San Francisco.
— Broadcom cuts 1,267 jobs in Palo Alto.
— Salesforce lays off 1,202 people in San Francisco.
Cisco's latest disclosure on job cuts comes in a Feb. 14 regulatory filing that the tech giant has decided to cut 5% of its total global workforce of 84,900 in July 2023. Then it became clear.
A 5% workforce reduction equates to a loss of approximately 4,200 Cisco employees worldwide.
A new warning letter details for the first time how Cisco's global cuts will affect the Bay Area.
“This action is expected to be permanent in nature,” Syeda Grayson Dill, Cisco's deputy general counsel, wrote in a warning letter Cisco sent to the EDD.
