Reported 2 months ago
Cisco Systems Inc. is set to cut thousands of jobs in its second round of layoffs this year, following an earlier cut of approximately 4,000 jobs in February. This shift comes as the networking equipment maker seeks to pivot towards faster-growing sectors like cybersecurity and artificial intelligence amidst declining traditional tech spending. The company aims to transform into a provider of networking services and software as it adapts to changing market demands. Recent concerns regarding the economy and slower than expected benefits from AI investments have further prompted these layoffs.
Source: YAHOO