Cisco Systems shares fall on bearish guidance, plans to cut about 4,000 jobs

Cisco Systems Inc. on Wednesday announced a restructuring plan that calls for job cuts of 5%, or about 4,200 people, based on lower quarterly and fiscal year forecasts.

“Given the cautious macroeconomic environment, we are seeing deal uncertainty and are more cautious in our forecasts and expectations” in the coming months, Cisco Chief Executive Chuck Robbins said on a conference call with analysts after the results. “We remain confident in our long-term strategy.”


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