Cisco Systems (CSCO) has announced it will cut about 7% of its workforce as part of its strategic shift towards high-growth sectors such as cybersecurity and artificial intelligence (AI). This decision follows a previous reduction of 5% in February, affecting around 4,250 employees.
In its fiscal fourth-quarter report, Cisco reported revenue of $13.6 billion, marking a 10% decrease year-over-year…
Cisco, the leading manufacturer of networking equipment, is set to announce another wave of layoffs as early as Wednesday, coinciding with its fourth-quarter earnings report. This latest round of job cuts follows a previous reduction in February, which saw 4,000 employees let go. The new layoffs could match or slightly exceed this number.
The decision comes as Cisco aims to refocus its business…
