[BIG TECH]■ STORY TIMELINE
CISCO POSTS RECORD REVENUE, CUTS 4,000 JOBS
Cisco reported record revenue while announcing layoffs affecting 4,000 employees, or roughly 8% of its workforce. The company's CFO stated the cuts are not cost-reduction driven.
Ars Technica+0m
Layoffs are "not a savings-driven resutrcture," CFO says.