Technology News
Cisco to cut 5,500 jobs in shift from switches to software
SAN FRANCISCO Cisco Systems Inc said it would cut nearly 7 percent of its workforce, posting charges of up to $400 million in its first quarter, as the world's largest networking gear maker shifts focus from its legacy hardware towards higher-margin software.
Recent Technology News
As technology shifts more layoffs loom at tech companies
NEW YORK Cisco Systems Inc's announcement on Wednesday that it plans to lay off 5,500 employees is unlikely to be the last round of Silicon Valley pink slips as hardware companies struggle to keep up with rapid technology shifts, analysts and recruiters said.
AT&T revamps cellular data plans, eliminates overage fees
NEW YORK AT&T Inc, the No. 2 U.S wireless provider, said on Wednesday that it would roll out a new data plan that does away with overage fees and reduces data speeds for wireless customers who surpass their data allowance.
Vietnam bans Pokemon Go from government, defense sites
HANOI Vietnam has banned players of the game Pokemon Go from the offices of its government and ruling Communist Party, besides defense locations, as thousands of its citizens get swept up in the frenzy to capture virtual cartoon characters.
Expert shortage hampers Japanese financials in blockchain race
TOKYO Japanese financial firms risk falling behind on the world stage as efforts to adopt blockchain technology that promises to save billions of dollars in backroom processing and revolutionize the finance industry are hamstrung by a dearth of specialists.
Banks miss out as Chinese firms do DIY deal advice
HONG KONG When ride-hailing firm Didi Chuxing agreed to buy Uber Technologies Inc's China unit this month, creating a $35 billion business, both firms used in-house advisory teams, meaning the investment banks that normally advise on these deals missed out on an estimated $60 million in fees.
- Asia stocks jump, dollar trips as risk appetite returns
- Fed policymakers divided over whether to raise rates soon: minutes
- Citi CEO seen asking for more patience as targets still elusive
- Bosch worked 'hand-in-glove' with VW in emissions fraud: lawyers
- Low-cost airlines bet on data to drive profit
- SolarCity slashing costs, including CEO pay
- American Apparel hires investment bank to explore sale: sources