"Cisco Plans Major Job Cuts in Shift to High-Growth Sectors"

Cisco Systems is reportedly set to lay off thousands of employees as it shifts focus to "high-growth areas," with an announcement expected after its upcoming earnings call on February 14. The company had previously issued layoff notices to about 5 percent of its workforce last year as part of efforts to "rebalance" and maximize cost savings. Despite growth in segments like Security and Networking, Cisco lowered its full-year 2024 sales outlook due to a slowdown in new orders. Industry insiders see the layoffs as a move to refocus on sales-driven innovation and high-growth areas, with some viewing it as an opportunity to acquire top talent.