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 and Hewlett Packard are in negotiations with the Chinese government to supply cameras for a surveillance project that has human-rights advocates on alarm.
A group of Falun Gong practitioners alleges that Cisco provided networking gear and technical assistance to build and operate an elaborate system of Internet controls used by the Chinese government.
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.
Cisco Systems Inc. CEO John Chambers is calling his company’s recent missteps “unacceptable” and is vowing to take “bold steps” to narrow Cisco’s focus.
Cisco reported its first-ever cash dividend will amount to 6 cents per share and will be paid on April 20.
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.