Cisco Systems turns 30 years old this week. But as business currently stands, there’s little reason to celebrate.
Sales have declined in three of the past four quarters, profitability has dropped in five straight, and in August the company said it was cutting 6,000 jobs, or 8 percent of its workforce. Skeptics see the company’s ubiquitous networking gear getting uprooted by an industry-wide shift to cloud computing and a decoupling of hardware and software.
This article originally appeared on Recode.net.