Cisco Announces Layoffs of 4,000 Employees as Part of Strategic Restructuring Focused on AI and Growth Areas
Cisco Systems is cutting nearly 4,000 jobs in a strategic restructuring aimed at accelerating its focus on artificial intelligence (AI), security, silicon, and networking infrastructure. The move, described by CFO Mark Patterson as realignment rather than cost-cutting, reflects the company's response to growing demand from hyperscale cloud customers and AI-driven markets.
Tickers: $CSCO
Topics: AI restructuring strategic_realignment workforce_reduction