Sandisk Stock Soars After Blowout Earnings and AI-Driven Outlook 
Amazon Stock Dips as Reports Link Company to Potential $50B OpenAI Investment 
US Judge Rejects $2.36B Penalty Bid Against Google in Privacy Data Case 
Climate Adaptation at Home: How Irrigreen Makes Conservation Effortless 
Pentagon and Anthropic Clash Over AI Safeguards in National Security Use 
Tesla Q4 Earnings Beat Expectations as Company Accelerates Shift Toward AI and Robotics 
Panama Supreme Court Voids CK Hutchison Port Concessions, Raising Geopolitical and Trade Concerns 
OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs 
Chinalco and Rio Tinto Acquire Controlling Stake in Brazil’s CBA for $903 Million 
Trump Threatens Aircraft Tariffs as U.S.-Canada Jet Certification Dispute Escalates 
Apple Earnings Beat Expectations as iPhone Sales Surge to Four-Year High 
Apple Forecasts Strong Revenue Growth as iPhone Demand Surges in China and India 
SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
CSPC Pharma and AstraZeneca Forge Multibillion-Dollar Partnership to Develop Long-Acting Peptide Drugs 
American Airlines Plans Return to Venezuela Flights After U.S. Lifts Ban 
Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI 
Cisco Systems, Inc. revealed its plan to lay off employees, affecting more than 4,000 people. This situation is the latest indication that the tech sector is experiencing tighter times.
Moreover, with these job cuts, Cisco Systems has joined several major tech companies that have also recently laid off or announced job terminations. The cuts are almost becoming a trend in the industry as businesses aim to boost their revenues through upgrades and trimming down costs, which unfortunately includes workforce reduction.
Layoffs and Acquisitions at Cisco
As per Associated Press News, during its latest quarterly results report, Cisco confirmed its massive layoffs on Wednesday, Feb. 14. The company said the cuts represent around five percent of its total workforce worldwide, which has already reached 84,900.
The new layoffs followed the company’s cutbacks in the last quarter of 2022. At that time, it had let go of 5,000 employees workers. This also occurred before Cisco acquired Splunk, a San Francisco-based software firm with a deal valuation of $28 billion. The buyout of Splunk is expected to be completed by Apr. 30 this year.
Slow Demand Prediction
Cisco is seeing a slowdown in demand for its software services and products in the next three to six months, and this could have contributed to the decision for the latest employee reductions.
The company’s chief executive officer, Chuck Robbins, also said they are wary of the economic uncertainties that will impact Cisco’s future.
Despite this, Cisco is reorganizing its corporate system and focusing on divisions that have more potential for driving growth. Likewise, CNN Business reported that the hardware and software developer plans to shift its focus to key priority areas like artificial intelligence (AI).
“We continue to align our investments to future growth opportunities,” Robbins said. “Our innovation sits at the center of an increasingly connected ecosystem and will play a critical role as our customers adopt AI and secure their organizations.”
Photo by: Cisco Newsroom
