Cisco plans to restructure, lay off thousands, and focus on high-growth markets, mirroring job cuts at Nokia, Ericsson.

Cisco Systems Inc. is reportedly planning to restructure its business and lay off thousands of employees in an attempt to focus more on high-growth markets. The networking company has a worldwide workforce of 84,900 and is yet to announce the total number of employees to be affected by the layoffs. This move comes as tech companies, including telecom makers Nokia and Ericsson, have cut thousands of jobs in the past year to lower costs.

February 09, 2024
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