Networking-equipment giant Cisco Systems said it would pursue deep cost cuts as customer priorities have shifted during the coronavirus pandemic
Networking-equipment giant Cisco Systems Inc. said it would adjust investment plans and pursue deep cost cuts as customer priorities have shifted during the coronavirus pandemic, which contributed to the company posting the first annual revenue decline in three years.
Cisco, considered a proxy for corporate high-tech hardware demand, on Wednesday reported a 9% sales decline in the most recent quarter and said it would restructure operations, including offering early retirement to workers.
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