Networking equipment maker Cisco Systems Inc. is cutting 6,500 employees—about 9 percent of its work force — as it follows up on a plan announced in May to eliminate thousands of jobs in an effort to cut costs and raise profits.
Cisco Systems Inc., the world’s largest maker of computer networking gear, said Wednesday that it’s set to eliminate thousands of jobs as part of cost-cutting moves to get profits growing again.
Cisco is planning more changes as it continues to focus on streamlining operations following several challenging quarters.
Cisco Systems Inc. announced Tuesday that it was exiting several consumer businesses, including most notably its Flip Video camera business, and laying off 550 employees.
Stocks finished Thursday flat, dragged down by Cisco Systems Inc. The San Jose-based company issued a weak earnings forecast.
Cisco said Wednesday that its net income fell 18 percent in the latest quarter, as sales growth slowed.
Arise High School, a charter school in Oakland’s Fruitvale District, received routers and wireless adapters from Cisco Systems as a donation to tackle the digital divide.
Intel, the big chip maker, said Friday that it will raise its dividend by 15 percent, providing welcome a note of optimism after network gear maker Cisco Systems Inc. helped drive stocks lower this week with a disappointing sales forecast.
Skype is replacing its CEO with a Cisco Systems executive, a change that may indicate the Internet calling service is closer to announcing specific plans for an initial public offering.
Cisco Systems Inc., the world’s largest maker of computer-networking gear, said Tuesday that it would pay its first dividend by July, the end of its current fiscal year. Like several other big technology companies, Cisco has a large cash balance, and analysts have speculated that it would use it for a dividend.