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The mass layoffs announced Wednesday in conjunction with Cisco’s latest quarterly results represent about 5% of its worldwide workforce of 84,900. The purge follows Cisco’s late
Cisco employs nearly 85,000 people, according to the company’s most recent annual report, meaning that more than 4,000 workers will likely be affected by layoffs.
Shares of the networking equipment maker fell more than 5% in extended trading on Wednesday, after Cisco cut the forecast to $51.5 billion to $52.5 billion from $53.8 billion to $55 billion, it ...
(Reuters) -Cisco will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI ...
By Juby Babu (Reuters) - Cisco Systems said on Wednesday it was witnessing rebounding demand for its networking equipment and announced a 7% cut in its global headcount to focus on high-growth ...
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The tech sector has kicked off the new year with a spate of fresh job cuts that are coming at the same time as the industry is doubling down on investments into artificial intelligence.