Cisco Systems Inc., the biggest maker of computer networking equipment, gave a bullish revenue forecast for the current period thanks to a rebound in orders, but announced plans to cut thousands of jobs as part of a strategy shift.
Sales will be $13.65 billion to $13.85 billion in the fiscal first quarter, which ends in October, the company said in a statement Wednesday. Analysts had estimated a number at the very low end of that range.
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