Cisco Systems (CSCO) has released an update.
Cisco has unveiled a restructuring plan aimed at investing in priority areas, which will affect 5% of its workforce and result in approximately $800 million in pre-tax charges, primarily in cash. Most of these charges are expected to be recognized in the third quarter of fiscal 2024, with the restructuring anticipated to extend into the first half of fiscal 2025. These projections are forward-looking and subject to risks, including the potential for variations in the restructuring’s execution and financial impact.
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