Cisco Systems Inc. is a multinational technology conglomerate that manufactures and sells networking hardware, telecommunication equipment, and software products such as video conferencing, energy management, and domain security systems. It was founded in 1984 and is headquartered in California, USA.
According to reports, Cisco has announced plans to lay off 5% of its global workforce, which amounts to over 4,000 employees, in a restructuring initiative aimed at reducing costs and focusing on key areas like Artificial Intelligence. The report further mentions that the estimated value of the restructuring will cost the company almost $800 million USD.
