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Will Cisco's stock price increase by at least 5% within a week after the layoff announcement?
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Resolution / Starting Odds
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No • 50%
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Story
Cisco to Lay Off 4,000 to 8,000 Employees in Second Round of Job Cuts This Year, Announcement Expected by Wednesday
Aug 9, 2024, 03:02 PM
Cisco Systems Inc. is reportedly planning to lay off thousands of employees in a second round of job cuts this year. According to sources, the announcement could be made as early as Wednesday. The layoffs are part of Cisco's strategic shift towards focusing on higher-growth areas such as cybersecurity and artificial intelligence. The number of employees affected could range from 4,000 to 8,000, similar to the company's previous layoff in February.
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