(CNBC) Cisco said in a filing that it’s implementing a restructuring plan that will result in $1 billion in pretax charges to its financial results and will “allow it to invest in key growth opportunities and drive more efficiencies in its business.” The company said $700 million to $800 million of charges will be recognized in the current quarter, with the rest hitting over the course of fiscal 2025.
Cisco cutting 7% of workforce, reports earnings and revenue beat for quarter
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