{"id":142042,"date":"2024-08-15T07:33:48","date_gmt":"2024-08-15T06:33:48","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=411297"},"modified":"2024-08-15T07:33:48","modified_gmt":"2024-08-15T06:33:48","slug":"cisco-cuts-7-of-staff-realigns-portfolio","status":"publish","type":"post","link":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/2024\/08\/15\/cisco-cuts-7-of-staff-realigns-portfolio\/","title":{"rendered":"Cisco cuts 7% of staff, realigns portfolio"},"content":{"rendered":"

Cisco announced a restructuring plan which involves cutting its global staff of 90,400 by 7 per cent, a loss of more than 6,300 jobs, while CEO Chuck Robbins (pictured<\/em>) explained a move to bring its networking, security and collaboration teams under one umbrella. \u00a0 \u00a0<\/p>\n

The company stated in a US Securities and Exchange filing the restructuring and job cuts would enable investment in growth areas and boost efficiency.<\/p>\n

Cisco expects to record pretax charges of up to $1 billion \u201cconsisting of severance and other one-time termination benefits, and other costs\u201d. <\/p>\n

It will recognise approximately $700\u00a0million to $800\u00a0million of those charges in Q1 of fiscal 2025 (which began in late July) with the rest due in the remainder of the year.<\/p>\n

The vendor laid off 4,000 employees in February<\/a>.<\/p>\n

CFO Scott Herren stated Cisco is investing in AI, cloud and cybersecurity. In June, it announced a $1 billion fund<\/strong><\/a>\u00a0for investments in AI start-ups including\u00a0Cohere<\/strong><\/a>, Mistral AI and Scale AI.\u00a0<\/p>\n

On an earnings call for fiscal Q4 2024 (the period to 27 July), Robbins stated it hit a $1 billion run rate for AI in the webscale space. \u00a0<\/p>\n

Reorganisation<\/strong>
The newly combined division is led by Jeetu Patel as EVP and chief product officer. He previously served as EVP and general manager of security and collaboration.<\/p>\n

Long-time Cisco executive Jonathan Davidson becomes an adviser to Robbins, having previously been an EVP and GM of the networking team and holding various high-level positions over a 22-year spell with the company. \u00a0<\/p>\n

Robbins said the pace of the AI revolution and demand from its enterprise customers drove the combination of the divisions.<\/p>\n

\u201cI just felt like it was important\u00a0for us to have a single leader.\u201d<\/p>\n

Fiscal Q4<\/strong>
Cisco reported revenue of $13.4 billion, down 10 per cent year-on-year. Net income fell 45 per cent to $2.2 billion.<\/p>\n

Networking revenue dropped 28 per cent to $6.8 billion, with security up 81 per cent to $1.8 billion.<\/p>\n

Collaboration sales were flat at $1 billion. <\/p>\n

Splunk<\/a> contributed $960 million.<\/p>\n

It expects fiscal Q1 revenue of $13.6 billion to $13.8 billion.<\/p>\n

The post Cisco cuts 7% of staff, realigns portfolio<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cisco announced a restructuring plan which involves cutting its global staff of 90,400 by 7 per cent, a loss of more than 6,300 jobs, while CEO Chuck Robbins explained a move to bring its networking, security and collaboration teams under one umbrella. <\/p>\n

The post Cisco cuts 7% of staff, realigns portfolio<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n","protected":false},"author":131,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-container-style":"default","site-container-layout":"default","site-sidebar-layout":"default","disable-article-header":"default","disable-site-header":"default","disable-site-footer":"default","disable-content-area-spacing":"default","footnotes":""},"categories":[22],"tags":[61,122,127,129,124,128,125,132,131,133,126,130,123,66,94,88,97,56,64,65,60,112,40,75,95,104,33,120,105,101,98,115,30,29,41,86,70,69,68,72,71,26,118,108,87,46,55,48,52,54,51,50,83,62,58,57,109,35,59,63,85,79,82,96,80,27,81,114,44,42,43,45,38,39,110,117,100,111,116,73,89,90,92,91,93,84,78,37,102,34,36,77,67,74,99,113,119,28,121,32,47,49,53,103,31,76],"class_list":["post-142042","post","type-post","status-publish","format-standard","hentry","category-mobile","tag-airpods","tag-anime","tag-anime-characters","tag-anime-cosplay","tag-anime-edits","tag-anime-merchandise","tag-anime-movies","tag-anime-news","tag-anime-recommendations","tag-anime-reviews","tag-anime-series","tag-anime-streaming","tag-animes","tag-app-store","tag-app-store-samsung","tag-appgallery","tag-appgallery-oneplus","tag-apple","tag-apple-music","tag-apple-tv","tag-apple-watch","tag-bbc-sport","tag-best-mobile-games","tag-bixby","tag-bixby-xiaomi","tag-champions-league","tag-cyberpunk","tag-cyberpunk-2077","tag-fantasy-football","tag-fifa","tag-football","tag-formula-1","tag-fortnite","tag-free-fire","tag-free-mobile-games","tag-freebuds-pro","tag-galaxy-a52","tag-galaxy-note-20","tag-galaxy-s21","tag-galaxy-watch-4","tag-galaxy-z-fold-3","tag-game","tag-games","tag-golf","tag-harmonyos","tag-how-to-backup-iphone","tag-how-to-factory-reset-iphone","tag-how-to-reset-iphone","tag-how-to-restore-iphone","tag-how-to-unlock-iphone","tag-how-to-unlock-iphone-5","tag-how-to-unlock-iphone-6","tag-huawei","tag-ios","tag-ipad","tag-iphone","tag-live-soccer","tag-lol","tag-macbook","tag-macos","tag-mate-40-pro","tag-mi-11-lite","tag-mi-home-security-camera-basic-1080p","tag-mi-home-security-camera-basic-1080p-huawei","tag-mi-smart-band-6","tag-minecraft","tag-miui","tag-mlb-scores","tag-mobile-game-design","tag-mobile-game-development","tag-mobile-game-marketing","tag-mobile-game-monetization","tag-mobile-games","tag-mobile-gaming","tag-nba-scores","tag-nba-standings","tag-nfl","tag-nfl-scores","tag-nhl-scores","tag-one-ui","tag-oneplus","tag-oneplus-9-pro","tag-oneplus-buds-pro","tag-oneplus-nord-ce-5g","tag-oxygenos","tag-p40-pro-plus","tag-poco-x3-pro","tag-pokemon","tag-premier-league","tag-pubg","tag-pubg-mobile","tag-redmi-note-10-pro","tag-samsung","tag-samsung-pay","tag-soccer","tag-sports","tag-steam","tag-steeam","tag-top-10-anime","tag-valorant","tag-when-do-the-iphone-7-come-out","tag-when-does-the-iphone-7-come-out","tag-when-is-the-iphone-7-coming-out","tag-world-cup","tag-xbox-series-x","tag-xiaomi"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/142042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/comments?post=142042"}],"version-history":[{"count":1,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/142042\/revisions"}],"predecessor-version":[{"id":142058,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/142042\/revisions\/142058"}],"wp:attachment":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/media?parent=142042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/categories?post=142042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/tags?post=142042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}