Cisco Systems said on Wednesday it was witnessing rebounding demand for its networking equipment and announced a 7 percent cut in its global headcount to focus on high-growth areas such as AI and cybersecurity.
Shares of the company were up 5 percent in extended trading after it forecast upbeat current-quarter revenue.
“Inventory digestion is complete and we’re now returning to a more normalized demand environment,” CEO Chuck Robbins said on an analyst call.
Cisco has been working to reduce its reliance on its massive networking equipment business, which has struggled due to supply-chain disruptions and a slowdown in post-pandemic demand. In February, it said it would cut 5 percent of its global workforce or more than 4,000 jobs.
It announced the second round of layoffs on Wednesday, confirming a Reuters report from last week.
Read Full Article Here
Cisco Sees Recovery in Equipment Demand, Cuts 7 Percent Jobs Globally
- by: Reuters
- 08.14.24
- Source:
The Epoch Times
- 08/15/2024
Cisco by is licensed under https://commons.wikimedia.org/wiki/File:Cisco_Amsterdam_%28Netherlands%29.jpg
Cisco by is licensed under https://commons.wikimedia.org/wiki/File:Cisco_Amsterdam_%28Netherlands%29.jpg
Follow us
Read our latest news on any of these social networks!
Get latest news delivered daily!
We will send you breaking news right to your inbox
Have a tip? Let us know!
Recent Articles
- by: Danielle de Wolfe
- Source:
LBC
- 03/12/2025
Europe retaliates against Trump tariffs - as UK steel industry warns US levies 'couldn't come at a worse time'
The tariffs, which see a 25% levy applied to international imports of steel and aluminium, came into effect at midnight on Tuesday (around 4am GMT), with British steel and aluminium industries bracing for the impact.
- by: Luis Prada
- Source:
Vice
- 03/12/2025
Meta Is All About Free Speech—Except They Built a Censorship Tool for China
You might remember the video in which Mark Zuckerberg, donned in the outfit of his newly acquired hypebeast persona, ushered in the second Trump administration by declaring that “it’s time to get back to our roots around free expression.” Suddenly, Zuckerberg was a free-speech warrior, which is code for willfully throwing our most vulnerable under the bus to appease conservatives.
- by: CNN Newsource
- Source:
News Channel 3-12
- 03/12/2025
US inflation cooled in February, but Trump’s tariff plans and trade war loom
Inflation slowed more than expected in February and cooled for the first time in four months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans.
- by: Karah Rucker
- Source:
SAN
- 03/11/2025
US officials to press Ukraine on peace talks in Saudi Arabia meeting Tuesday
U.S. officials will meet in Saudi Arabia to assess Ukraine’s openness to negotiating an end to the war with Russia. The Trump administration seeks a “realistic peace deal” amid strained relations with Ukrainian President Volodymyr Zelenskyy.