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August 9, 2024 at 3:12 PM. By Utkarsh Shetti and Supantha Mukherjee. (Reuters) -Cisco will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker ...
By Akash Sriram (Reuters) -Cisco Systems said it would cut 5% of its global workforce, or more than 4,000 jobs, and lowered its annual revenue target as the company navigates a tough economy that ...
So far this year, 144 tech companies have laid off almost 35,000 workers, according to the website Layoffs.fyi. In addition to disclosing the job cuts, Cisco reported strong fiscal second-quarter ...
On January 31, 2023, as part of $3 billion in cost reductions, Intel announced pay cuts affecting employees above midlevel, ranging from 5% upwards. It also suspended bonuses and merit pay increases, while reducing retirement plan matching. These cost reductions followed layoffs announced in the fall of 2022. [129]
The trend of layoffs and acquisitions continued in 2009 with the termination of an additional 2,000 employees, [22] [23] and the acquisition of the FLCOS microdisplay company Displaytech. [24] Micron agreed to buy flash-chip maker Numonyx for $1.27 billion in stock in February 2010. [25]
Finance. For the fiscal year 2023, Cisco reported earnings of US$12.6 billion, with an annual revenue of US$57 billion, an increase of 10.6% over the previous fiscal cycle. Cisco's shares traded at over $43 per share, and its market capitalization was valued at US$213.2 billion in September 2018. Year.
See if you can follow this workplace math: 40 hours - 8 hours - 20% pay = 1. Translation: For a Canadian purchasing software company, reducing an employee’s 40-hour work week by 8 hours, with a ...
The Worker Adjustment and Retraining Notification Act of 1988 (the "WARN Act") is a U.S. labor law that protects employees, their families, and communities by requiring most employers with 100 or more employees to provide notification 60 calendar days in advance of planned closings and mass layoffs of employees. [ 1]