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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 ...
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 indicated that the layoffs would begin this year and continue into next year, saying severance and other termination benefits for employees would cost the company a total of nearly $800 ...
(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 ...
The four-week average of claims, which softens some of the week-to-week volatility, dipped by 750 to 212,750. The total number of Americans receiving unemployment benefits for the week of January 4 fell to by 18,000 to 1.86 million. Weekly applications for jobless benefits are considered a proxy for layoffs.
Cisco's layoffs come just two weeks after chipmaker Intel Corp. announced it would cut about 15,000 jobs as it tries to turn its business around to compete with more successful rivals like Nvidia ...
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 areas such as AI and ...
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