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Cisco's Form 8-K announced the restructuring plan with its Q4 FY2024 results on 14 August 2024; The Register[4] (published 15 Aug 2024 09:28 UTC) says Cisco "has confirmed in a filing with the SEC[1]" the 7 percent cut.On 14 August 2024 Cisco announced a restructuring that would eliminate about 7% of its global workforce, with up to US$1 billion of pre-tax charges, as it shifted investment toward AI and security.
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