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Juniper Networks, a US-based telecom gear maker, is planning to cut over 400 jobs globally as part of its restructuring plan. The company expects to incur a cost of $59 million for severance and termination expenses, as well as other restructuring costs. The layoffs are aimed at realigning resources and investments for long-term growth opportunities. Juniper reported a revenue of $1.43 billion in Q2, with its enterprise business accounting for over 45% of total revenue. However, due to uncertainties in customer deployments, the company is reducing its full-year revenue growth forecast.
