Cisco begins new round of layoffs

Feb. 28, 2020 2:11 AM ETCisco Systems, Inc. (CSCO)CSCOBy: Yoel Minkoff, SA News Editor48 Comments
  • Cisco (NASDAQ:CSCO) has started a new round of job cuts as "part of an ongoing process of aligning our investments and resources to meet the evolving needs of our customers and partners," WSJ reports.
  • The company, which has around 75,000 employees, declined to say how many people were affected or what roles they hold.
  • Earlier this month, Cisco said it expects revenue to drop between 1.5% and 3.5% in its current quarter, on top of a 3.5% Y/Y drop in revenue for the company's fiscal second quarter, which ended Jan. 25.

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