Reported about 2 months ago
Cisco Systems has reported a recovery in demand for its networking equipment, prompting a forecast for optimistic revenue. To adapt to changing market conditions and prioritize growth areas like AI and cybersecurity, the company is cutting 7% of its global workforce. This follows a previous 5% cut earlier this year. The restructuring is expected to result in pre-tax charges of up to $1 billion, with anticipated first-quarter revenue estimates surpassing analysts' predictions.
Source: YAHOO