Cisco Systems is laying off 7% of its workforce to invest in 'key growth opportunities' as part of a broader strategy to drive business efficiency.
Cisco spokesperson Robyn Blum emphasized that the layoffs will allow the company to be 'laser focused on growth' while they integrate recent acquisitions and invest in new technologies.
CEO Chuck Robbins indicated that Cisco's reorganization will consolidate its networking, security, and collaboration teams, signifying a shift in operational focus to enhance efficiency.
Despite the layoff announcement, Cisco reported a substantial profit of $10.3 billion for the previous fiscal year, even with a slight decline in total revenue.
Collection
[
|
...
]