Cisco warned of problems on the horizon as it wrapped up it fiscal 2019 financial results [PDF].
[...]"Our Q4 results marked a strong end to a great year," Cisco CEO Chuck Robbins said of the numbers. "We are executing well in a dynamic environment, delivering tremendous innovation across our portfolio and extending our market leadership."
Where Cisco took a hit, however, was in its outlook for the fiscal 2020 first quarter. Switchzilla told analysts it only expects to see growth of 0-2 per cent year over year, and EPS will sit between 80 and 82 cents. Both were well short of what analysts had expected from the networking giant.
Cisco also warned that it was taking a big hit in China, where the ongoing trade wars and state-backing for local companies has got so bad that Robbins said his company has been "uninvited" and frozen out of bidding for deals with telcos in the Middle Kingdom.
(Score: 3, Informative) by captain normal on Friday August 16 2019, @04:18AM
Maybe that's the reason for the layoffs. Guess things are not going to well at Cisco.
https://www.sfgate.com/news/bayarea/article/Cisco-Lays-Off-Nearly-500-Employees-At-Sj-14308139.php [sfgate.com]
Everyone is entitled to his own opinion, but not to his own facts"- --Daniel Patrick Moynihan--