'We are making clear, strategic investments': Cisco cuts 4,000 jobs, even as AI orders surge
- Cisco will be making 4,000 workers redundant very soon
- Last quarter the company posted a "record" 12% growth in revenue
- Investors seem happy with revenue growth and the future outlook
Cisco has confirmed it will be laying off around 4,000 workers, representing 5% of its global headcount, as part of an ongoing restructuring effort to focus on AI, silicon, optics and security.
Company CEO Chuck Robbins announced the plans in a post praising the firm's "record" revenue growth of 12%, declaring that "Our Path Forward" must include some job losses along the way.
Rather than being purely a cost-cutting exercise, or a response to AI-enhanced productivity rendering some human workers irrelevant, Robbins stressed the job cuts would fuel a company restructure, giving it the "focus, urgency, and the discipline" to tackle high-growth areas.
Cisco cuts 4,000 jobs
The company added that it will continue hiring in high-growth areas like AI...
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