Cisco Systems Guides Lower, Cuts 5% of Staff

Cisco Systems is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Cisco Systems posted solid results for its second quarter, but the company provided guidance for the next two quarters that fell short of analysts’ estimates. The company also said it plans to reduce its workforce by about 5% as part of a restructuring plan “in order to realign the organization and enable further investment in key priority.” The company said the plan would result in about $800 million in charges for severance and other costs. Dow Jones & Co. owns Factiva.

Scroll to Top