US tech giants Cisco and Oracle are set to cut hundreds of jobs in California’s San Francisco Bay Area, according to a report in the San Francisco Chronicle citing recent state filings.

Cisco will lay off 221 employees across its Milpitas and San Francisco offices, including 157 positions in Santa Clara County and 64 in San Francisco. The cuts will take effect on October 13. Oracle will eliminate 101 jobs at its Santa Clara facility on the same date.

The layoffs come despite strong earnings for both firms. Cisco reported $14.7 billion in fourth-quarter revenue, up 8% from a year earlier, and $56.7 billion in full-year revenue. Oracle posted more than $12 billion in profit in its last fiscal year.

According to the Chronicle, these reductions follow earlier rounds of job cuts. Cisco shed more than 9,000 positions in two waves last year, while Oracle recently dismissed nearly 200 Bay Area employees and more than 160 staff members in Seattle.

Cisco is simultaneously ramping up its investments in AI infrastructure, which has already generated over $2 billion in orders this year, the report added.

Source: San Francisco Chronicle

Total views: 467