Cisco plans workforce reduction.

Cisco is planning to lay off around 5% of its workforce which is about 4,000 employees, according to reports. This comes after the company reduced its revenue forecast due to weak demand from clients in the telecommunications and cable service sectors. The company's CEO, Chuck Robbins, stated that the layoffs are in response to a challenging macro environment and that the company will continue to invest in artificial intelligence (AI) technologies.

February 15, 2024
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