Cisco Systems Inc. announced a restructuring plan on Wednesday that includes job cuts of 5%, or about 4,200 people, on lower quarterly and fiscal-year guidance.
“Given the cautious macro environment, we’re seeing uncertainty on deals and are more cautious in our forecast and expectations” in the coming months, Cisco Chief Executive Chuck Robbins said in a conference call with analysts following the results. “We remain confident in our long-term strategy.”
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- Source: https://www.marketwatch.com/story/cisco-systems-stock-dips-on-lowered-guidance-5-job-cuts-e6ee2a04?mod=mw_rss_topstories
