Cisco Systems is planning to lay off 7% of its employees, its second round of job cuts this year, as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. Cisco’s layoffs come just two weeks after chipmaker Intel Corp. announced it would cut about 15,000 jobs as it tries to turn …
Cisco Systems said it would cut 5% of its global workforce, or more than 4,000 jobs, and lowered its annual revenue target as the company navigates a tough economy that has led to thousands of layoffs by tech firms this year. Cisco Systems announces layoffs Shares of the networking equipment maker fell more than 5% in extended trading on Wednesday, …
Cisco Systems announced that the firm will reduce its global workforce by 5 per cent, equivalent to over 4,000 employees, and revised its annual revenue target downwards. In extended trading on Wednesday, shares of the networking equipment maker declined by over 5 per cent, following Cisco's downward revision of its forecasted revenue range to $ 51.5 billion to $ 52.5 …
Joining the Big Tech layoff season, networking giant Cisco is reportedly laying off over 4,000 employees, or about 5 per cent of its workforce, in a “rebalancing” act while “rightsizing certain businesses”. “You can just assume that we’re going to — we’re not actually — there’s nothing that’s a lower priority, but we are rightsizing certain businesses,” he told the …
