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Cisco Plans Restructuring, Potential Job Cuts As Focus Shifts to High-growth Sectors

Benzinga ·  02/11 09:29

Cisco(CSCO.US) is reportedly set to restructure its operations, potentially resulting in thousands of job cuts as it aims to prioritize high-growth sectors.The exact count of affected employees is still under consideration by the company, Reuters reported, citing three people familiar with the matter.The announcement might be made as soon as next week, coinciding with the company's earnings call scheduled for Feb. 14.In November 2022, during an earnings call, Cisco announced a restructuring affecting around 5% of its workforce, resulting in $600 million in severance and other expenses, the report read.In its previous earnings call, Cisco had

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