Reported about 2 months ago
Cisco Systems Inc. has issued an optimistic revenue forecast due to a resurgence in orders, but plans to cut over 6,300 jobs—about 7% of its workforce—to pivot towards cybersecurity, cloud services, and artificial intelligence. Despite a revenue drop in the last quarter to $13.6 billion, the company reported a 14% increase in orders, signalling stronger corporate investment in networking equipment. Cisco's revenue projections for the first quarter range from $13.65 billion to $13.85 billion, exceeding analyst expectations.
Source: YAHOO