Cisco and Oracle to cut hundreds of jobs: report

US tech companies Cisco and Oracle are set to eliminate hundreds of jobs in the San Francisco Bay Area, according to a San Francisco Chronicle report based on recent state filings.

Cisco will cut 221 positions across its Milpitas and San Francisco offices, including 157 in Santa Clara County and 64 in San Francisco, with layoffs effective October 13. Oracle plans to lay off 101 employees at its Santa Clara location on the same date, says the report.

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.

The Chronicle notes that these layoffs follow previous workforce reductions. Cisco cut over 9,000 jobs in two rounds last year, while Oracle recently laid off nearly 200 workers in the Bay Area and more than 160 in Seattle. The latest cuts come as Cisco expands its push into AI infrastructure, which has generated over $2 billion in orders this year.