Cisco Systems Inc. will lay off hundreds of workers in two San Francisco Bay Area cities next month, according to state filings filed last week.

According to state documents last week, Cisco Systems Inc. will lay off hundreds of employees in two San Francisco Bay Area cities next month.

The corporation said that it would indefinitely lay off 123 employees at a Milpitas address and 227 at a San Jose address in a WARN notice that was sent to the state on July 17 and received on September 12. The notification states that the layoffs will begin on October 16.

Based on research by The Standard, Cisco Systems has reported layoffs of 700 employees through May, 80 of who were in San Francisco offices. In addition, the business let go of 4,000 employees between January 2022 and January 2023, placing it sixth among the top U.S. IT corporations in terms of layoffs.

Cisco reported $12.6 billion in earnings for the fiscal year ending July 29, up 7% from 2022. In the fourth quarter, the company invested $2.8 billion in share buybacks and acquired three privately held businesses: Lightspin Technologies Ltd., Smartlook s.r.o., and Armorblox Inc., including a cloud security software provider, digital analytics firm, and cybersecurity firm.

Tech layoffs in the Bay Area have decreased after a challenging year, with over 12,000 workers laid off in January, mainly due to Salesforce's 8,000-worker firing.