Cisco CSCO

Major technology companies including Cisco, Meta Platforms, and Amazon are implementing substantial job cuts due to financial strains, with Cisco announcing layoffs of 4,100 employees amid a 10% drop in net income and a significant decline in stock value. Meta is cutting 11,000 jobs and Amazon plans to reduce its workforce by 10,000 as they face challenges from decreasing ad spending and low consumer confidence. In contrast, Texas Instruments has shown resilience with a 14% year-over-year revenue growth, highlighting the diverging fortunes within the tech industry.