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Cisco to Cut 1,100 More Jobs Amid Worse-Than-Expected Outlook

Cisco said last year it plans to reinvest the savings from its restructuring plan into "key priority"

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    NEWSLETTERS

    Cisco to Cut 1,100 More Jobs Amid Worse-Than-Expected Outlook
    AP Images, File

    Cisco announced Wednesday that it will be cutting 1,100 employees as part of its expanded restructuring plan.

    The new job cuts come only months after the enterprise technology company cut 5,500 jobs — seven percent of its workforce, as CNBC reported. 

    The announcement came as the company reported better-than-expected earnings for the fiscal third quarter, but worse-than-feared forward guidance. Shares fell more than 5 percent after hours.

    Cisco said last year it plans to reinvest the savings from its restructuring plan into "key priority areas such as security, IoT, collaboration, next-generation data center and cloud."

    Man Visits Disneyland 2,000 Times In a Row

    [NATL] Man Visits Disneyland 2,000 Times In a Row

    A Huntington Beach man has set a record for most consecutive visits to Disneyland. Jeff Reitz, 44, has visited the park 2,000 times in a row. Reitz started visiting the park every day when he was unemployed and wanted to keep his spirits up. Employed at the VA now, Reitz continues to visit every day after work because it helps him to decompress after a long day. His favorite ride is the Matterhorn Bobsleds, which he first rode with his mom when he was 2 years old. 

    (Published Friday, June 23, 2017)