Despite the positive results, Cisco’s shares dropped 1.4 per cent in extended trading following the company’s forecast for the second quarter
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CoreWeave has formed relationships with AI companies and cloud providers to create computing clusters specifically tailored to handle AI workloads
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This comes after a previous reduction of 4,000 positions earlier this year, the company is now eliminating approximately 5,600 additional roles
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As the company plans 7 per cent staff reduction due to dip in revenue, this is its second major workforce reduction
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The decision followed an earlier cut of 5 per cent of workforce or more than 4,000 jobs earlier this year
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The networking giant, which already cut 4,000 jobs in February, is expected to announce the new layoffs as early as Wednesday in conjunction with its fourth-quarter earnings report
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In conversation with BW Businessworld, Daisy Chittilapilly, President – India & SAARC, Cisco, discusses recent initiatives in India, including manufacturing, digital acceleration projects, and the launch of cloud services like WebEx Calling and Meraki
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Cisco’s initiative with the Meraki India Region points to its strategic focus on enhancing local capabilities to support India’s digital-first agenda
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The company is already funding promising AI startups including Cohere, Mistral AI and Scale AI
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According to Scott Herren, Cisco’s Chief Financial Officer, customer demand has stabilised, aligning with the company’s expectations
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