Industry
Cisco announces record revenue and 4,000 layoffs in the same day
Cisco announced nearly 4,000 job cuts as part of a restructuring to shift investment toward artificial intelligence while simultaneously raising its annual revenue forecast after strong hyperscaler de
Cisco announced nearly 4,000 job cuts as part of a restructuring to shift investment toward artificial intelligence while simultaneously raising its annual revenue forecast after strong hyperscaler demand. The company reported record quarterly revenue of $15.8 billion, a 12% year-over-year increase, while the layoffs represent less than 5% of its roughly 86,000-person workforce. The restructuring marks a pivot toward hardware and software supporting the global AI buildout, focusing on silicon, optics, security, and enterprise AI tools.
Source: Ars Technica | 2026-05-14