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Chuck Robbins

All articles tagged with #chuck robbins

businesstechnology1 year ago

"Cisco Cuts 5% of Global Workforce, Slashes Full-Year Guidance"

Cisco Systems reported better-than-expected fiscal second-quarter results but reduced its full-year guidance and announced plans to cut about 5% of its workforce, or more than 4,000 employees, due to concerns about demand. CEO Chuck Robbins cited caution and scrutiny of deals amid high uncertainty in the macro-environment. The company also mentioned slowing demand, ongoing inventory correction, and weak demand from telco and cable service provider customers. The news led to a negative reaction from Wall Street analysts, with concerns about the company's performance and the impact of the layoffs.

via Yahoo Finance|
#businesstechnology#chuck-robbins#cisco-systems
businesstechnology1 year ago

"Cisco CEO Blames Light Forecast on Cautious Customers and Inventory Consumption Issue"

Cisco CEO Chuck Robbins attributes the company's light forecast to cautious customers, an inventory consumption issue, and continued weakness in demand from telecommunications and cable service provider clients. The company also announced a 5% reduction in its workforce, or about 4,000 jobs, and its shares dipped as much as 9% in extended trading. Despite the challenges, Robbins expressed confidence that the inventory issue would be resolved by the end of 2024 and remains hopeful for better times ahead.

via CNBC|
#businesstechnology#chuck-robbins#cisco
technology2 years ago

"Cisco's CEO Chuck Robbins celebrates early AI wins and record-breaking year"

Cisco Systems reported better-than-expected fiscal fourth quarter results, with CEO Chuck Robbins highlighting the company's diverse book of business and easing supply chain challenges. Robbins also mentioned that Cisco is seeing early wins in the field of artificial intelligence (AI), particularly in next-generation ethernet connectivity. He expects the real move to this new technology to happen in fiscal 2025, and believes that the opportunity in AI over the next several years could be three times that of the original cloud buildout.

via Yahoo Finance|
#ai#chuck-robbins#cisco
business2 years ago

Cisco's Sales Forecast Signals Companies' IT Spending Continues Despite Sluggish Demand.

Despite a 23% decline in orders in the past quarter, Cisco Systems Inc. has given a strong sales forecast for the current period ending in July, with sales expected to rise 14% to 16%. CEO Chuck Robbins said demand remains steady and an improved supply chain is giving customers greater confidence to purchase equipment to cope with an ever-increasing flow of data. Robbins has tried to recast his company as a provider of networking services and software, which are paid for on a recurring basis, and decrease the company’s reliance on one-time sales of expensive machines.

via Yahoo Finance|
#business#chuck-robbins#cisco