10 Top Tech Companies Poised For Massive Layoffs - InformationWeek

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4/7/2016
07:06 AM
Dawn Kawamoto
Dawn Kawamoto
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10 Top Tech Companies Poised For Massive Layoffs

Tech workers across the nation may witness a massive pink slip parade this year, should one Wall Street analyst's prediction of more than 260,000 tech layoffs in 2016 come true. Here's at a look at the top 10 companies on his list and why they are there.
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Cisco Systems
Estimated percentage of jobs to be cut this year: 20%
Estimated number of cut employees: 14,000

Cisco cut 2,200 employees in fiscal 2015 as a result of both the restructuring plan it announced in the previous year and attrition, according to its Securities and Exchange Commission filing. 

Chowdhry, however, estimates the cuts are expected to continue in 2016, despite the company posting stronger than expected fiscal second-quarter results.  

He attributes the expected downsizing to Cisco's missing out on the technology movement toward cloud computing and the company not needing as many employees handling the backend process as its customers increasingly adopted cloud computing.

(Image: Brian Raisbeck/iStockphoto)

Cisco Systems

Estimated percentage of jobs to be cut this year: 20%

Estimated number of cut employees: 14,000

Cisco cut 2,200 employees in fiscal 2015 as a result of both the restructuring plan it announced in the previous year and attrition, according to its Securities and Exchange Commission filing.

Chowdhry, however, estimates the cuts are expected to continue in 2016, despite the company posting stronger than expected fiscal second-quarter results.

He attributes the expected downsizing to Cisco's missing out on the technology movement toward cloud computing and the company not needing as many employees handling the backend process as its customers increasingly adopted cloud computing.

(Image: Brian Raisbeck/iStockphoto)

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