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The job reductions come despite strong financial results for both companies. Cisco reported $14.7 billion in revenue for the fourth quarter, up 8% from a year earlier, and $56.7 billion for the full year, while Oracle posted more than $12 billion in profit in its last fiscal year, further adds the report.
https://www.thedailystar.net/tech-startup/news/cisco-and-oracle-cut-hundreds-jobs-report-3975886
JPMorgan Chase, which reported $15 billion in profit last quarter, is cutting 99 jobs in San Francisco even as it expands its presence downtown.
The bank disclosed the layoffs in an Aug. 27 filing with the state of California.
https://www.sfchronicle.com/bayarea/article/jpmorgan-chase-san-francisco-layoffs-21020377.php
https://www.crn.com/news/networking/2025/cisco-layoffs-total-more-than-200-in-bay-area-cut
On the heels of the news that the company is refreshing its channel leadership, Cisco is cutting 221 workers in the San Francisco Bay Area by mid-October.
“I don’t want to get rid of a bunch of people right now. I don’t want to get rid of engineers,” Robbins said. “I just want our engineers we have today to innovate faster and be more productive, and that gives us a competitive advantage.”