Cisco’s Record Revenue and 4,000 Layoffs Amid AI Shift
Cisco’s Record Revenue and 4,000 Layoffs Amid AI Shift
https://www.startupecosystem.ca/news/ciscos-record-revenue-and-4000-layoffs-amid-ai-shift/
Publish Date: 2026-05-17 06:46:00
Source Domain: www.startupecosystem.ca
- Cisco Systems announced the elimination of 4,000 jobs, constituting less than 5% of its workforce.
- The layoffs coincide with a record quarterly revenue of $15.8 billion, which marks a 12% increase over the same period last year.
- The strategic shift involves reallocating resources to focus on high-demand areas like AI, cybersecurity, and high-speed networking equipment.
- Cisco’s CEO, Chuck Robbins, highlighted the need to concentrate on emerging technologies with long-term value.
- The company has already secured $5.3 billion in AI infrastructure orders and expects total AI orders to reach $9 billion for the fiscal year.
- Cisco is abandoning certain traditional enterprise IT roles in favor of investing in artificial intelligence and related technologies.
