Cisco to lay off more than 4,000 employees, here's what the company has to say

Cisco announced a restructuring plan resulting in layoffs. Close to 144 tech companies have announced layoffs. Cisco reported second quarter revenue of $12.8 billion. Chuck Robbins, chair and CEO of Cisco, emphasized the importance of innovation. Scott Herren, CFO of Cisco, highlighted progress in the business model shift.

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