Networking equipment maker Cisco Systems announced its plans to cut 5% of its global workforce, which comes to more than 4,000 jobs, as part of its ongoing restructuring efforts. The news comes as the company trimmed its earnings and revenue outlook for fiscal 2024 citing weak demand and a tough economy. Following the announcement at the second-quarter earnings call on Wednesday, Cisco shares declined more than 5 percent in the extended trading. Thursday, in pre-market activity on the NASDAQ, the shares were down around 4% to trade at $48.29. Cisco Systems had 84,900 employees as of July 29, 2…