Money

Cisco lays off 4000 workers to focus on AI

Published

2 years ago

February 16, 2024

Cisco has unveiled plans to reduce its workforce by approximately 5%, equating to around 4,250 employees worldwide.

This strategic move comes as Cisco intensifies its emphasis on artificial intelligence initiatives.

The layoffs, projected to incur pre-tax charges totaling $800 million related to severance and benefits, signify Cisco’s commitment to directing resources towards high-growth sectors such as AI and software development.

During an investor briefing on Wednesday, Cisco CEO Chuck Robbins articulated the rationale behind the decision, stating, “Our innovation sits at the center of an increasingly connected ecosystem and will play a critical role as our customers adopt AI and secure their organizations.”

Apple takes Israeli spyware firm to court over hacking

Job cuts

The announcement of the job cuts coincided with Cisco’s quarterly earnings report, where the company also revised its annual revenue forecast downward from a potential $55 billion to a range between $51.5 billion and $52.5 billion.

Robbins acknowledged the challenges in certain market segments, stating, “We also continue to see weak demand with our telco and cable service provider customers.”

As part of its AI-focused strategy, Cisco recently expanded its collaboration with semiconductor giant Nvidia, aiming to provide enterprises with simplified cloud-based and on-premises AI infrastructure.

This partnership encompasses networking hardware and software tailored to support advanced AI workloads.

Own tech

Furthermore, Robbins highlighted Nvidia’s commitment to utilising Cisco’s ethernet alongside its own technology, particularly prevalent in data centers and AI applications.

In the second quarter of fiscal year 2024, Cisco reported an adjusted profit of 87 cents per share and revenue of $12.79 billion, surpassing estimates from the London Stock Exchange Group.

Money

How Iran conflict is driving oil prices and global market volatility

Published

3 hours ago

March 5, 2026

Harvey Vargas

Energy prices soar amid Iran conflict, with investors reassessing risks and market dynamics.

The ongoing conflict in Iran has sent energy prices soaring and markets reeling. Investors are reassessing inflation expectations, central bank rate paths, and global growth prospects as risk aversion rises.

David Scutt from Stonex gives his insights on how surging oil prices and rising energy risk premia are influencing investor sentiment and market dynamics.

Markets may need weeks to fully digest the economic impact of the conflict, with volatility likely to persist as investors weigh geopolitical and financial risks.

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Money

Middle East crisis: Global markets, tech, and supply chains under pressure

Published

1 day ago

March 4, 2026

Harvey Vargas

Navigating global uncertainty as the Middle East crisis reshapes markets, technology, and supply chains

The ongoing Middle East crisis is sending shockwaves through global markets, driving energy prices higher and intensifying volatility. Investors are facing growing uncertainty as inflationary pressures mount and risk sentiment shifts. Supply chains are under stress, with key trade routes disrupted, forcing businesses worldwide to rethink logistics, procurement, and operational strategies.

The technology sector is feeling the ripple effects as semiconductors, critical components, and AI infrastructure come under pressure. Volatility in tech stocks is rising, while defence and cybersecurity firms are navigating both new risks and opportunities. At the same time, investment in renewable energy and energy tech could accelerate as companies adapt to energy price surges and seek more resilient solutions.

Brad Gastwirth from Circular Technologies joins us to break down what these developments mean for global markets and long-term strategic planning.

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#MiddleEastCrisis #GlobalMarkets #TechIndustry #EnergyPrices #SupplyChain #InvestorAlert #AI #Innovation

Money

Australia’s inflation report and Nvidia earnings impact explained

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Published

1 week ago

February 26, 2026

Harvey Vargas

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Australia’s latest inflation report is creating waves across the market, with questions about interest rates, the strong performance of the Aussie dollar, and the uneven nature of the stock market rally. Investors are watching closely as changes in carry trade risks this month add another layer of complexity.

David Scutt from StoneX discusses what these shifts mean for trading strategies and the broader economic outlook. He provides insight into how underlying factors are shaping investor confidence and market dynamics.

On the tech side, Nvidia’s upcoming earnings are expected to influence AI development and the broader tech sector. Coupled with trends in SaaS and bitcoin price action, these movements are signalling how investor sentiment is evolving in a fast-changing landscape.

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#AustraliaEconomy #InflationReport #AussieDollar #NvidiaEarnings #AIInvesting #StockMarketNews #BitcoinTrends #SaaSInsights