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. “We continue to align our investments to future growth opportunities,” Cisco Chief Executive Chuck Robbins said in a statement announcing the results. Cisco CSCO reported fiscal second-quarter... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywhere. Anytime. Subscribe Now ...

Chuck Robbins, Cisco CEO & Chairman, at the WEF in Davos, Switzerland on May 25th, 2022.Cisco said in a statement on Wednesday that it would cut 5% of employees. The networking hardware maker had about around 85,000 employees as of last July. Shares were down 4% in extended trading.Cisco is the latest tech company to announce downsizing plans in 2024, as the industry continues to squeeze out costs following the market downturn that hit two years ago. January was the busiest month for job cuts in the industr ...

SAN JOSE, Calif., Feb. 14, 2024 /PRNewswire/ --  News Summary: $12.8 billion in revenue, down 6% year over year; GAAP EPS $0.65, down 3% year over year, and Non-GAAP EPS $0.87, down 1% year over year Revenue growth in security, collaboration and observability Progress on business model transformation in Q2 FY 2024: Total software revenue was flat year over year and software subscription revenue up 5% year over year Total annualized recurring revenue (ARR) at $24.7 billion, up 6% year over year a ...

Signage with logo at the Silicon Valley headquarters of networking company Cisco, San Jose, ... [+] California, August 17, 2017. (Photo via Smith Collection/Gado/Getty Images)GettyCisco System’s Inc. is scheduled to report earnings after Thursday’s close. The stock hit a record high of $82/share in 2000 and is currently trading near $50. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap do ...

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Many tech stocks soared over the past year as interest rates stabilized and investors eagerly rushed toward AI-related stocks in anticipation of a major AI boom. However, that buying frenzy also inflated some tech stocks' valuations to historical highs.So for investors who are wary of buying the market's priciest tech stocks, it might be a good idea to look for the cheaper value plays that pay steady dividends instead. I believe three underappreciated blue chip stocks fit the bill: IBM (IBM -0.28%), AT&T (T ...

Cisco is planning to cut thousands of jobs as it restructures its business, according to a report.  The San Jose, California-based network giant is trying to turn its focus on high-growth areas, sources familiar with the matter told Reuters. However, the exact number of layoffs hasn't been determined yet, a source said.As of July 2023, the company had approximately 84,900 employees globally, according to the company's annual report. LAYOFFS SURGED 136% IN JANUARY TO SECOND-HIGHEST LEVEL ON RECORDRepresentat ...

Cisco (NASDAQ:CSCO) layoffs are coming for employees of the internet communications company as it prepares for major job cuts in the near future.According to recent reports, Cisco is looking at laying off thousands of employees. However, the company hasn’t decided on the exact number of roles that will be reduced. The report says that an announcement could come sometime this week as the company is getting ready to report earnings on Wednesday.Insiders close to the matter claim that these Cisco layoffs will ...

Cisco To Fire Thousands Alexander Koerner / Getty Images News via Getty Images Cisco (NASDAQ: CSCO) is set to fire thousands of workers, according to Reuters. The router company has about 65,000 workers.Cisco joins Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOG), and Meta (NASDAQ: META) as huge tech companies with pruned headcounts. Usually, the reason given is that they hope to be more “efficient.” This implies that they overhired at some point. Another reason for the cuts is that AI can do work once d ...

One of the best ways to spot opportunities in strong buy Dow stocks is with the Dogs of the Dow strategy. At the end of every year, you simply buy the top 10 worst-performing stocks on the Dow, which also have respectable dividends. Over the year, you collect yield and hopefully benefit from Dow stock recoveries. Usually, the strategy works out well.For example, in 2023, the top Dogs returned 10.4% compared to the Dow Jones average return of 14.4%. In 2022, the Dogs returned 2.2%, outperforming the Dow’s -8 ...