Cisco to lay off thousands in restructuring: report

Cisco Systems Inc. CSCO, +0.41% is planning thousands of job cuts as it restructures its business to focus more on high-growth markets, according to a Reuters report Friday, which cited three people familiar with the matter. The networking giant has a worldwide workforce of 84,900 as of fiscal 2023. Cisco declined comment on the report. Shares of Cisco dropped 10% in mid-November, a day after it reported quarterly results that beat on the top and bottom lines but gave weaker-than-expected revenue guidance ...