Cisco says it will be addressing the headcount reduction Thursday with its employees. The tech giant also plans to shrink its real estate footprint of smaller office locations, executives said.
Cisco Systems on Wednesday said it plans to lay off employees and reduce some of its real estate as the company right-sizes some of its business units.
Cisco CEO Chuck Robbins took to the tech giant’s Q1 2023 earnings call to confirm plans to “rebalance” certain business units, including its Collaboration segment. Employees will be notified on Thursday of the coming job cuts, Robbins said.
“There’s nothing that’s a lower priority, but we are right-sizing certain businesses,” Robbins said of the company’s extensive portfolio.
The San Jose, Calif.-based company expects to recognize pretax charges of around $600 million in conjunction with its plan. The charges, which are primarily cash-based, will consist of severance and other-time termination benefits, real estate-related charges and other costs. Cisco said it expects to recognize about $300 million of these charges in its second fiscal quarter of 2023, about $200 million in the second half of fiscal 2023 and the remaining amount through the first quarter of fiscal 2024.
Cisco spokesperson Robyn Blum confirmed to CRN that the company would be undertaking a “limited business restructuring that will right-size our real estate portfolio and will impact approximately 5 percent of our workforce.”
Blum added that Cisco currently has open positions and “will do everything we can do help place affected employees in these open roles.”
“This is not about reducing our workforce - in fact we’ll have roughly the same number of employees at the end of this fiscal year as we had when we started. This decision was not taken lightly, and we will do all we can to offer support to those impacted, including generous severance packages, job placement services and other benefits wherever possible,” she said in an email to CRN.
As of July 30, Cisco had 83,300 full-time employees, according to a regulatory filing.
[Related: Cisco Partner Summit 2022: CEO Chuck Robbins’ Top 5 Quotes ]
Cisco CFO R. Scott Herren added that the pending layoffs are not a headcount action driven by cost savings. “It’s a rebalance across the board,” he said.
In fact, Cisco plans to move some displaced employees into current job openings in other business units based on skills, Robbins said. “If you look at the number of jobs that we have opened in the areas that we’re trying to invest, it’s just slightly lower than the number of people that we believe will be impacted. We’re going to be working really hard to help match our employees to those roles.”
The CEO also said that Cisco would be beefing up its investment in strategic areas, including within its End-To-End Security segment.
Cisco’s Collaboration segment declined 2 percent year over year to $1.09 billion in revenue compared to Q1 2022, which the company attributed to declines in Meetings, offset by growth in Cloud Calling and Contact Center.
Robbins called the Cisco Collaboration business strong, especially in Calling and Contact Center.
“I actually am optimistic over the next 12 months about our collaboration portfolio,” Robbins said. “I think [the team] built the best platform in the business and when you look at our devices and the interoperability with Microsoft, that’s a huge thing from a customer perspective for flexibility. So, I think they’ve done a good job. And I feel I feel pretty good about that business.”
The latest Cisco layoffs news comes as a slew of tech companies have been announcing job cuts in the face of macroeconomic headwinds.
Cisco has revealed new integrations between its Collaboration platform Webex and Apple technologies to provide people more flexibility in their hybrid work.
As more businesses build long-term hybrid work strategies, Webex aims to provide in-office, remote and hybrid workers with the intuitive collaboration tools they need.
The first integration is Mobile Camera Share, which allows iPhone and iPad users to share content from the rear-facing or front-facing camera via the Webex Meetings mobile app and annotate over what they are seeing. With next generation videoconferencing, users can write, draw, and add shapes, in real-time and simultaneously in their meetings. This industry-first innovation enables frontline workers to collaborate more effectively by leveraging the high-quality video capture capabilities of Apple devices.
Architects, engineers, or construction workers can share job site progress with clients in real-time, instead of sending static images or screenshots. Another potential use case is for a technician to show the equipment in a factory, data center or field location with a help center team, who can write and draw instructions on the live feed to avoid any misunderstandings. Experts can see everything as if they were together in the room, noting their input onscreen where exactly corrections or changes should be made.
“Today, people across the Middle East expect flexibility when it comes to work. True hybrid work means being empowered to use your favorite devices to work seamlessly in the office, at home and everywhere in between. The latest collaboration solutions from Webex signify another step towards empowering workforces with greater choice and beyond the office,” said Ahmad Zureiki, Director of Collaboration Business, Cisco Middle East and Africa.
Apple’s Continuity Camera is a new feature in macOS Ventura that enables Mac customers to use their iPhone as a webcam. Webex users can use the camera system on iPhone to unlock powerful video effects like Center Stage, Portrait mode, and Studio Light. In addition, Webex supports Desk View in macOS Ventura, which acts like an overhead camera without the need for complicated equipment, showing the user’s face and desk simultaneously — great for creating demos, instructional videos, drawing on paper, and more.
These integrations are a testament to Webex’s commitment to making collaboration even easier. Collaborating with Apple technology and putting the power of choice in the hands of hybrid workers builds on the momentum over the course of the year.
On the heels of a strong first fiscal quarter of the year, Cisco says it will “rebalance” certain business units, including Cisco’s Collaboration segment, to make way for further investments in strategic areas of growth, the company’s CEO Chuck Robbins announced on Wednesday.
Cisco Systems chipped away at its record-breaking backlog and posted its largest quarterly revenue total in the history of the company during its first fiscal quarter of 2023, according to Cisco Chairman and CEO Chuck Robbins.
The tech giant saw an easing of supply chain constraints and component shortages during Q1 2023, a shift that has allowed Cisco to deliver hardware, which has in turn, released software subscriptions that “were sitting in backlog,” the company’s CEO said during the company’s Q1 2023 earnings call on Wednesday evening.
But despite a positive start to the fiscal year, Robbins took to the earnings call to confirm plans to “rebalance” certain business units, including Cisco’s Collaboration segment. Employees will be notified on Thursday of the coming job cuts, Robbins said.
“The people impact is difficult … it’s always a difficult decision, but we have a lot of opportunity,” he said. “There’s nothing that’s a lower priority, but we are rightsizing certain businesses.”
Cisco’s Collaboration segment declined 2 percent year over year to $1.09 billion in revenue compared to Q1 2022, which the company attributed to declines in Meetings, offset by growth in Cloud Calling and Contact Center.
[Related: Cisco’s Oliver Tuszik On Oversized SMB Opportunity: ‘Most Businesses In The World Are SMBs’ ]
Robbins said Cisco will be reinvesting in strategic areas that are primed for growth, such as the company’s security segment.
Cisco’s End-To-End Security segment posted 9 percent growth during the first quarter to $971 million, which Cisco CFO R. Scott Herren attributed to strength in the company’s zero-trust and unified management security approach, as well as high demand for the company’s Duo offerings.
Robbins said it continues to make progress on its business transformation to software and subscriptions. The company’s total annual recurring revenue (ARR) was up 7 percent year-over-year, to $23.2 billion. Both total software revenue and software subscription revenue climbed up 5 percent and up 11 percent year over year, respectively.
Cisco’s product revenues climbed 8 percent and service revenues stayed flat during Q1 2022, said Herren.
Cisco’s Secure, Agile Networks segment, which includes the core switching and routing businesses, posted revenues of $6.68 billion during the quarter, a 12 percent incline compared to Q1 2021’s result. The Secure, Agile Networks segment was impacted by supply chain constraints during the last quarter of Cisco’s fiscal 2022 year, but this quarter, the segment was buoyed by strength in the company’s popular Catalyst and Meraki product lines, while data center switching saw a modest decline, Herren said.
Cisco’s Catalyst line can now be managed via the Meraki dashboard, one of Cisco’s more popular portfolio updates announced this year.
Cisco’s Internet for the Future segment, which includes the company’s telecommunications, cloud, and optical networking products, declined 5 percent year over year with revenues of $1.31 billion. Cisco’s Webscale businesses, on the other hand, saw a double-digit increase in orders during the quarter, according to the company.
For fiscal Q1 2023 which ended October 29, Cisco’s revenue climbed 6 percent to $13.63 billion compared to $12.90 billion in the same period a year ago. Cisco posted diluted earnings per share of 65 cents, a 7 percent decline compared to 70 cents a year ago and net income of $2.7 billion in the first fiscal quarter of the year, a decline of 10 percent compared to the same quarter a year ago.
Cisco’s stock was up more than 4 percent in after-hours trading Wednesday to $46.13.
Africa faces a significant challenge when it comes to the availability and distribution of cybersecurity talents and secure IT infrastructures.
By Conrad Steyn, chief technology officer and head of engineering: sub-Saharan Africa at Cisco
This is important because as the continent continues to undergo digital transformation, the need for security becomes more apparent. We have seen too many enterprises globally suffer from attacks that cost money or bring essential services to a halt. Something needs to change.
Facing this challenge, as well as new business circumstances that influence how we build and maintain our IT systems, we need to understand how we got here, how the world has changed, how people are working, and the various ways we can work together to instil change and nurture the next generation of security graduates and professionals.
Many attackers, few defenders
Africa has a shortage of required security skills. According to the 2022 Africa Cyber Security Outlook survey by KPMG, nearly two out of three responding enterprises reported having trouble recruiting and retaining qualified cyber professionals. This is amidst a surge in cybersecurity across all sectors to the point that, there are an estimated 3-million cybersecurity job vacancies globally, which is expected to grow to 10-million in the near future.
What elevates the severity of this shortage is the fact that cyber attackers and malicious actors continue to set their sights on Africa. Interpol’s Africa Cyberthreat Assessment Report shows that the agency’s partner company Trend Micro recorded more than 679-million email threat detections, 8,2-million file threat detections, and 14,3-million web threat detections between January 2020 and February 2021.
At the same time, the report found over 90% of businesses operate without proper security protocols. From online scams and phishing to ransomware, data-harvesting and disrupting malware, attackers are doing everything to exploit the vulnerability of organisations’ networks, applications, and users across the continent.
Setbacks and growing trends
Made up of countries with unique legislative and technical complexities, Africa is set back by limited investment. While there is definite progress in countries such as South Africa, Kenya, Egypt and Nigeria, in terms of attracting investment, the rollout creates inequities and places these nations ahead of others. Though also continually growing, the still limited number of data centres impacts the continent’s overall level of data residency and retention.
Meanwhile, next to all the opportunities it creates, remote and hybrid working has introduced new challenges to organisations devising the ideal security strategy. As more and more employees work from different locations and become more reliant on Software-as-a-service (SaaS) applications, the security perimeter expands, and existing gaps widen. Cyber attackers are cognisant of this, and as such, organisations need to take extra steps to protect their networks.
Education and other solutions
When it comes to education, collaboration is the answer. For instance, managed services and security vendors are partnering with crucial learning institutions to introduce and offer ICT-based curriculums that cater to employment in the digital age and uplift graduates with the skills they need to excel.
Vendors themselves offer online training and certification of their specific products and systems so that when exploring the job market, graduates have a firm grip on the tools and resources that companies worldwide use to build and secure their infrastructure.
The Cisco Networking Academy provides IT, networking, and cybersecurity skills that translate into real-world opportunities. Having just celebrated its 25th anniversary, the academy has provided training to more than a million people across sub-Saharan Africa. With hundreds of thousands of students spread across African countries, including South Africa, Kenya, and Nigeria, the academy plays a vital role in upskilling young Africans, promoting economic and employment growth and enabling participation in the global digital economy.
Since the introduction of the Academy in Sub-Saharan Africa, more than 1.07 million people have been trained and upskilled.
During Cisco’s 2022 fiscal year alone, more than 345 000 people were enrolled in Cisco Networking Academy courses across 50 countries in the region. The 2022 cohort also shows that the Networking Academy is making significant progress towards the meaningful inclusion and upliftment of women in the technology industry. In South Africa, 61% of the current intake of 82 219 students are female.
Additionally, The Cisco EDGE (Experience, Design, Go-to-Market, Earn) Incubation Center concept in Africa is a great example of a local, grassroots initiative that aims to share business knowledge, speed up entry to market and, and ultimately create new jobs for the local economy.
In light of the shortage challenge, managed service offerings that cover network, cloud, and endpoint security, as well as fully staffed security operation centres (SOCs) are becoming more popular with organisations. Cisco Edge launched a cybersecurity specialisation cohort across South Africa. This certified 11 small, medium, and micro enterprises as Cisco Express Security partners. Not every organisation has dedicated security teams or the expertise to deal with today’s evolving cyber threats. Therefore, these partnerships are crucial to help protect and future-proof businesses adequately.
Africa’s digital transformation can be accelerated through strategic partnerships between sectors and industry players, regulatory and standardised procedures, and prioritising skills development. We can shape it into a bastion of cybersecurity in the digital age and retain industry-leading professionals and systems that take us into the future and beyond.
Cisco announced new capabilities across its security portfolio so teams can be more productive and protected wherever they are working from.
Unveiled at Cisco's exact annual Partner Summit conference, the news demonstrates continued progress towards the strategic vision of the Cisco Security Cloud that will protect the integrity of an organization's entire IT ecosystem.
The end-to-end platform will safeguard users, devices and applications across public clouds and private data centers, without public cloud lock-in.
"Security is no longer optional. It is critical to every major initiative an organization may have," said Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco. "We are committed to delivering more value for our partners by continuing to drive innovation and making it easier to do business with Cisco. Partners can land key products and then expand across the Cisco Secure portfolio to increase profitability while enabling customers to securely achieve their digital transformation goals."
Duo Passwordless Authentication is now available for all customers to protect Single Sign On (SSO) applications. Users can login without any password by leveraging biometrics (Windows Hello and Mac touch ID) and security keys. Cisco is also adding the Duo Mobile app as a new option for passwordless authentication. This will simplify implementation and lower the total cost of ownership for customers, as well as better meet the needs of all end-users as global biometric adoption stalled after several years of sharp growth. Among Duo customers, biometrics were enabled on 81 percent of mobile devices.
The findings are from Cisco's 2022 Duo Trusted Access Report, also released today. The annual study is based on roughly 1.1 billion monthly global authentications, an increase of 38 percent year-over-year, across more than 49 million devices and 490 thousand unique applications.
"Passwordless authentication reduces the risk of phishing attacks and their ability to utilize stolen passwords or as we've seen more recently, MFA fatigue," said Dave Lewis, Global Advisory CISO at Cisco. "As cyberattacks continue to move closer to end-users, there is a huge opportunity to embrace low-friction authentication methods that ensure only trusted users and devices gain access to applications and corporate resources."
Employees are going back in the office. Among Duo customers, remote access authentications declined since peaking in 2020, reaching lower than pre-pandemic levels in 2022. As hybrid work becomes the new normal, organizations are demanding high-performance network security without the increased cost.
To better meet the needs of customers, Cisco is introducing the existing addition to the Secure Firewall 3100 Series, the first firewalls purpose-built for hybrid work. Secure Firewall 3105 expands sizing options for branch offices at a price point accessible to more organizations. It empowers hybrid workers with support for more remote users and increases VPN speed and performance by 17X.
Initially launching in the US, Cisco Capital is now offering Cisco Lifecycle Pay for Secure Firewall, a Cisco Capital fixed term subscription payment solution, to provide a financial incentive and lower total cost of usage without the burden of ownership.
Customers can receive a 10 percent replacement incentive when returning existing firewall hardware and upgrading to Cisco's latest qualifying firewall technology. Cisco Capital offers a global suite of segment-and architecture-agnostic payment solutions that enable partners to better support their customers and match their buying preferences.
As critical resources are moved into cloud, customers are concerned about data vulnerability. The challenge is only growing, as authentications to cloud applications increased 24 percent in 2022. Data needs to be protected, not just because of the risk tied to malicious threat actors, but the unintentional issues caused by inexperienced users.
To help with this, Cisco is enhancing Umbrella with stronger data loss prevention (DLP) capabilities, including unified policies and reporting across API-based out-of-band DLP, and real-time inline DLP, making management easier for security teams.
Umbrella is a foundational component of Cisco+ Secure Connect, Cisco's unified Secure Access Service Edge (SASE) solution. Highlighting their abilities with the integrated networking and security architecture, partners can now achieve SASE specialization to help customers securely enable cloud development and deployment, remote work, and edge computing.
Last week, 50,000 people convened in Las Vegas, and another 300,000 gathered virtually around the world for AWS re:Invent, one of the most anticipated tech events of the year. Chief Analyst Patrick Moorhead and Principal Analyst Anshel Sag attended live in Vegas. Other Moor Insights & Strategy analysts and I attended events virtually as AWS made several announcements throughout the week.
The cloud computing giant revealed a slew of new releases, upgrades, and initiatives, with plenty of them coming in the financial services industry. Overall, recurring themes at re:Invent 2022 were the introduction of intelligent applications, specialized industry solutions, and a modern data cloud—all of which suit financial services very well as they bring more speed and scalability that increases performance and service levels for consumers.
Time and again, AWS is showing its focus on leveraging cloud computing to help banks and other financial institutions move faster and serve end users better. Let’s examine some of these moves in more detail.
AWS and Trust Bank of Singapore Onboard 300K Customers in Two Months
Amazon Web Services Singapore Private Limited announced a partnership for AWS to power Trust Bank, Singapore’s first built-in-the-cloud digitally native bank. As a sign of its effectiveness, in two months of the collaboration Trust onboarded more than 300,000 retail customers. The companies tout the collaboration as giving Trust the agility to evolve rapidly based on consumer feedback and the scalability to support its fast-growing customer base.
Trust is backed by a partnership between Standard Chartered Bank and FairPrice Group and is the first of a new wave of digitally native banks in Singapore. To serve the evolving needs of digital-first consumers, Trust is deploying Amazon Elastic Compute Cloud (Amazon EC2) for scalable compute capacity without hardware constraints and Amazon Relational Database Service (Amazon RDS), a managed service for setting up, operating, and scaling a relational database in the cloud. Using real-time data, including consumer feedback and transaction history, Trust can upgrade its customer experience with improvements to its app, including customizing payment options and credit limits. The solution allows the bank to iterate quickly to provide a seamless and engaging user experience.
Thanks to AWS, Trust now offers consumer-facing conveniences such as onboarding times of less than four minutes for a savings or checking account, a first-to-market numberless credit card, and the ability to consolidate debit and credit cards by simply choosing one or the other in the app. The AWS Asia Pacific (Singapore) Region provides support for Trust platform customers across multiple Availability Zones with ultra-low latency for a seamless experience. AWS also helps the bank meet all compliance requirements for data residency.
The benefits of a built-in-the-cloud bank go beyond eliminating the time and expense invested in a digital transformation with little to no learning curve for bank associates or its customers. While many financial institutions (FIs) migrate to the cloud from legacy hardware and software, building cloud-based banking architecture from scratch allows for multi-channel onboarding, transactions, payment processing, and more. Operating in the cloud with real-time data will enable FIs to react quickly to ever-changing consumer demands and preferences and promptly respond to competitive threats. Cloud infrastructure can also help FIs’ compliance position around audits, data encryption, event logging, and more.
AWS and Timo Bank Bring Financial Services to the Unbanked In Vietnam
AWS also announced a partnership with Vietnam's Timo Bank, one of the country's leading digital banks, to build a core banking platform on AWS in a six-month timeframe. Timo plans to scale the cloud-native banking business and acquire five million new customers within three years.
Using AWS' compute, data analytics, and machine learning capabilities, Timo is bringing accessible digital banking services such as online payments and savings accounts to its customers in Vietnam via their mobile devices. The bank focuses on economic empowerment for the 69% of the country who are unbanked. Even though it has one of the fastest-growing economies in the world, Vietnam ranks near the top of the list of the most unbanked nations. Many of the country’s residents live too far from a bank, don’t have sufficient documentation to open accounts, or simply don’t trust the system. Ample access to inexpensive mobile devices, however, has changed banks' ability to reach the underserved population.
We can compare the Timo initiative with a non-AWS example. Techcombank, a Hanoi-based bank with more than 360 branches across Vietnam, also recognized the need to reach the unbanked, allowing people to transact through mobile devices. The bank underwent a digital transformation with IBM to create a mobile-optimized platform that can scale, provide excellent performance, and adapt to fluctuating workloads. As with any financial institution, Techcombank also needed cost-efficiency and enhanced security features. The bank chose IBM LinuxONE, and from 2015 to 2017, Techcombank experienced a more than 100% year-over-year increase in both transaction volume and the value of its e-banking services. Additionally, its customer base is increasing by 30 percent year-on-year following its shift to serving Vietnam's unbanked.
Timo is working towards a similar outcome but started with digital-first and then built around that mission. “Timo has developed a unique banking proposition on AWS, including services that solve customer pain points working backward from the mission to develop economic empowerment. We are excited to support Timo as the company grows,” said Pete Murray, ASEAN Head of Financial Services at AWS.
AWS Partner Mambu helped build Timo's core financial applications in the cloud, including banking, payments, and a mobile app. The company uses Amazon EC2, an AWS cloud for scalable computing capacity, and Amazon Elastic Kubernetes Services (Amazon EKS), a managed container service to quickly scale workloads on demand.
With the company expecting a tenfold increase in transactions by 2025, scalability will be critical. Timo also built a data lake using Amazon Simple Storage Service (Amazon S3) for scalable storage infrastructure and AWS Glue to extract, transform, and load (ETL) data. The data lake stores Timo's data on customer demographics and financial behavior securely and compliantly at scale. Using Amazon’s SageMaker data wrangler, Timo provides customers with personalized financial services using data stored in the lake. The service is fully managed and delivers on-demand machine learning models that can be trained quickly without expertise or time lag between input data points.
Nasdaq Cloud Migration Update
At the re:Invent 2021 keynote, Nasdaq CEO Adina Friedman revealed that Nasdaq will be transitioning its North American markets to AWS step by step, beginning with its U.S. options market, MRX. Nasdaq and AWS announced a multi-year collaboration that promised to change the foundation of stock exchange operator starting in 2022.
At this year’s opening keynote, AWS CEO Adam Selipsky said the two entities have delivered on that promise. “They [Nasdaq] moved a number of symbols already, with the rest on track to move before the end of this year. And customers are already seeing enhanced performance,.” Selipsky said of the transition.
According to an announcement at re:Invent last year, Nasdaq and AWS co-developed an edge computing solution exclusively designed for market infrastructure, using AWS Outposts hybrid solutions to extend its infrastructure, services, and tools to any location, data center, or on-premise facility. The AWS Outposts enable ultra-low latency edge computing for latency- and security-sensitive workloads, facilitating billions of dollars in daily transactions.
As it looks from the original announcement, the partnership should also help Nasdaq’s many infrastructure clients in the financial sector utilize AWS’s cloud capabilities to safeguard against criminal activity, analyze data more efficiently, and reduce costs associated with maintaining legacy systems. While Nasdaq said it will eventually be 100% cloud-enabled, it did not supply a concrete timeline for moving additional markets to the cloud other than “within the next decade.” As with any financial institution, the need for elasticity and resilience in volatility will always come up against concern for data breaches and regulatory matters, so although it is a needed move, it may not be entirely swift. My guess is at least four years, and that might be optimistic.
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A sign bearing the logo for communications and security tech giant Cisco Systems Inc is seen outside one of its offices in San Jose, California, August 11, 2022.
Paresh Dave | Reuters
The stock rose about 5% in extended trading.
Here's how the company did:
Revenue increased 6% year over year, while net income slid 10% to $2.7 billion. The company now expects sales growth in fiscal 2023 of 4.5% to 6.5%, up from a prior forecast that called for growth of 4% to 6%.
CFO Scott Herren said in a company release that Cisco delivered "strong results" and attributed the company's guidance forecast in part to an "easing supply situation."
While Cisco's numbers topped estimates, the company is still struggling to grow as the technology world rapidly shifts to cloud and subscription software and away from buying physical boxes. Cisco's stock price is down 27% this year, while the Nasdaq has dropped 29%.
Cisco's top business segment, which includes data-center networking switches, delivered $6.68 billion in revenue, up 12% from a year earlier.
Internet for the Future, its second-largest unit, saw revenue drop 5% to $1.3 billion. The division contains routed optical networking hardware the company picked up through its 2021 Acacia Communications acquisition.
Sales in the Collaboration segment, which features Webex, contributed $1.1 billion in revenue, down 2% year over year.
Cisco will hold its quarterly call with investors at 4:30 p.m. ET.
Cisco has expanded security portfolio capabilities to provide additional layers of value to partners, enhancing offerings linked to zero trust, networking and data protection.
Unveiled during Cisco Partner Summit 2022 in Las Vegas, the upgrade is aligned to Cisco Security Cloud which operates as a platform unifying management and policy administration.
The end-to-end play is designed to better safeguard users, devices and applications across public clouds and private data centres, in addition to removing the threat of public cloud lock-in.
“Security is no longer optional,” said Jeetu Patel, executive vice president and general manager of Security and Collaboration at Cisco. “It is critical to every major initiative an organization may have.
“We are committed to delivering more value for our partners by continuing to drive innovation and making it easier to do business with Cisco. Partners can land key products and then expand across the Cisco Secure portfolio to increase profitability while enabling customers to securely achieve their digital transformation goals.”
Specific to zero trust, Duo Passwordless Authentication is now available for customers to protect single sign-on (SSO) applications. This will allow users to login without any password by leveraging biometrics (Windows Hello and Mac touch ID) and security keys.
The vendor is also adding the Duo Mobile app as a new option for passwordless authentication, with the aim of simplifying implementation and lowering the total cost of ownership for customers.
“Passwordless authentication reduces the risk of phishing attacks and their ability to utilise stolen passwords or as we’ve seen more recently, MFA fatigue,” added Dave Lewis, global advisory CISO at Cisco.
“As cyber attacks continue to move closer to end-users, there is a huge opportunity to embrace low-friction authentication methods that ensure only trusted users and devices gain access to applications and corporate resources.”
Within the context of networking, Cisco is also introducing the existing addition to the Secure Firewall 3100 Series, tailored specifically for hybrid work.
Supporting the upgrade is Cisco Capital which is now offering Cisco Lifecycle Pay for Secure Firewall - a fixed term subscription payment solution - to provide a financial incentive and lower total cost of usage. This will initially launch in the US before rolling out on a global basis.
According to Cisco, customers can receive a 10 per cent replacement incentive when returning existing firewall hardware and upgrading to the latest firewall technology.
In addition, the vendor is also enhancing Umbrella with stronger data loss prevention (DLP) capabilities, including unified policies and reporting across API-based out-of-band DLP, and real-time inline DLP.
Umbrella is a foundational component of Cisco+ Secure Connect, the vendor’s unified secure access service edge (SASE) solution. Partners can now achieve SASE specialisation to help customers securely enable cloud development and deployment, remote work and edge computing.
“Our strategy and our innovation roadmap are all designed to set our partners for long-term success,” said Shailaja Shankar, senior vice president and general manager of Security Business Group at Cisco. “We are committed to helping partners deliver more value to customers and become more profitable.”
As outlined by Shankar, partner enablement linked to security will centre around increased simplification, new promotions and awareness investment.
“We are taking active steps to simplify the ease of doing business with Cisco Secure in ways that accelerate velocity and scaling our growth through the channel,” Shankar explained. “We are continuing to invest in our partners’ programs, offers, and expanding our routes to market so that our partners can be more profitable with Cisco Secure.”
Specific to new offers and promotions, a exact examples include “One Year on Us” that the vendor expanded to include the entire software-as-a-service (SaaS) and recurring software subscription portfolio. Partners can offer customers preferential pricing with one-year free with a three-year subscription purchase.
“We want customers to ask for Cisco Secure by name, so we are aggressively investing in brand awareness,” Shankar added. “This includes a new secure the enterprise campaign “if it’s connected, it’s protected” designed to strengthen Cisco’s market perception as a world-class security solutions provider.
“We are also planning to back this up by investing more than $50 million in paid digital marketing specifically for security over the next year.”
James Henderson travelled to Cisco Partner Summit 2022 in Las Vegas as a guest of Cisco.
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The future of work is hybrid and is already here, with the employment landscape changing rapidly, and a new generation of employees increasingly working remotely. Adapting to the new reality for businesses, therefore, is paramount, with research showing that such evolution today is a necessity.
Yet for businesses to be able to integrate smoothly into the new order of things, without their productivity being affected – but rather enhanced – they must be equipped with all necessary means and tools. Therefore, by providing their workforce with the tools to enable them to work from anywhere, having exactly the same work experience as in the office, every business ensures both the satisfaction of its own employees, but also the reduction of its expenses, which are two catalytic factors in its growth and prosperity.
Here, Epic leads the way once again, by presenting to enterprises the ultimate collaboration tool. Cloud Business Collaboration with WebEx has been developed in collaboration with the internationally-recognised American company CISCO, and provides all organisations with the necessary tools for flexible and secure solutions that promote collaboration from anywhere in real time.
It is a product that revolutionises the field of business communication. An essential tool that enables the workforce of any business, regardless of size, to work from anywhere, via the cloud, with productivity and work experience remaining unaffected.
The WebEx App upgrades all collaboration and communication functions, allowing businesses to bring all services – meeting, calling, file sharing, messaging – under one, user-friendly platform.
This new tool by Epic Business delivers advanced fixed telephony features across mobile, laptop and tablet, taking calling, messaging, meeting and team collaboration to the next level. An essential resource, available to every business, for direct and effective communication management, without the use of different applications (Skype, Teams, WeTransfer, telephony), as their features all come included as part of the tool.
Cloud Business Collaboration allows businesses to smoothly transition to the new work era and empower their teams with the necessary tools to enhance their productivity.
Epic Business provides the right solutions, as well as specialised business consultants, who will be there for you, every step of the way, ensuring your company’s smooth transition into the future of work.
Learn how to strengthen your team’s efficiency, irrespective of where they work, by calling 131 or at www.epic.com.cy.
Submitted by Franklin Templeton
On October 14, employee volunteers from Franklin Templeton’s Rancho Cordova, California office joined employees from Cisco in participating in a house build. These volunteers were the first corporate team on the Cornerstone Project, the largest Habitat for Humanity of Greater Sacramento development to date, which is being built in partnership with Mutual Housing of California. When complete, the community will provide housing to at least 400 individuals through 18 homes built by Habitat and 108 affordable rental units built by Mutual.
Franklin Templeton, Cisco, and the Cisco Foundation have been longtime supporters of Habitat for Humanity of Greater Sacramento, but this was their first time partnering on a build day event. The collaboration included a combined $35,000 in grant funds towards the building of this home project.
Phil Wolf, Account Manager, NorCal Commercial for Cisco, brought the idea to Franklin Templeton. “Cisco has a longstanding partnership with Habitat for Humanity and employees that love to get out and supply back. I am fortunate to work closely with Franklin Templeton where I knew there is a similar passion,” said Wolf. “To be able to bring Cisco and Franklin Templeton together, working side by side to raise money and build homes within our local community was a small dream come true.”
Heidi Francabandera, Franklin Templeton Senior Administrative Assistant, is the leader of the local volunteer chapter of Involved, the company’s global volunteerism program. “Our employees were really looking forward to getting back to in-person volunteering,” said Francabandera. “And it’s always great to partner with other corporations and provide a bigger impact to the community.”
The two companies are hoping to make the partnership an annual event.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives, and multi-asset solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.3 trillion in assets under management as of October 31, 2022. For more information, please visit www.franklintempleton.com.
About Habitat for Humanity of Greater Sacramento
Habitat for Humanity of Greater Sacramento is dedicated to eliminating substandard housing locally and worldwide through constructing, rehabilitating and preserving homes; by advocating for fair and just housing policies; and by providing training and access to resources to help families Improve their shelter conditions. Habitat for Humanity was founded on the conviction that every man, woman and child should have a simple, durable place to live in dignity and safety, and that decent shelter in decent communities should be a matter of conscience and action for all.
Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Newsroom and follow us on Twitter at @Cisco.
Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
The Cisco Foundation was established in 1997 by a gift from Cisco. We collaborate with nonprofit and non-governmental organizations around the world to develop technology-based solutions in our social investment areas. We focus our work on underserved communities and look for solutions that harness the power of the Internet and communications technology.