Learn more

Shares of Cisco were gaining around 8% in pre-market activity on the Nasdaq after the US technology conglomerate, in its fourth-quarter earnings call, announced a restructuring plan with around 7% cut in its global workforce. The move, which is expected to allow the firm to invest in key growth opportunities and drive more efficiencies in its business, would result in total estimated pre-tax charges of up to $1 billion. The restructuring and the planned job cuts are expected to impact around 6,000 employees from its total workforce. The company in February had announced 5% cut in its workforce…

cuu