Cisco Stock Hits Record High Amid Layoffs Announcement
Cisco Systems (CSCO) stock reached a record high on May 14, driven by strong Q3 results and strategic layoffs of nearly 5% of its global workforce. Investors view the cuts as efficiency-driven moves to reallocate resources toward growth areas like AI infrastructure and security.
Tickers: $CSCO
Topics: AI infrastructure Cisco CSCO stock price layoffs operational efficiency