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 SAN FRANCISCO (AP) - Cisco Systems Inc. is forecasting revenue growth for the first time in a year, offering further evidence that orders are rising again after passing what CEO John Chambers called a "tipping point" in the downturn this summer.
The world's No. 1 maker of computer-networking gear said Wednesday that given the brightening conditions, it will start to hire more employees after laying off workers over the past year. Cisco's work force has shrunk by about 3,500 over the past four quarters to about 63,800, mostly from layoffs but also from early retirement offers and attrition.
Chambers said during a conference call with analysts that the hiring will be "very targeted" and focused on new markets.
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