Cisco to cut nearly 4,000 jobs despite strong growth in AI, enterprise networking

Despite reporting positive financial news — including record third-quarter revenue of $15.8 billion, a 12% year-over-year increase — Cisco said it will eliminate almost 4,000 jobs. “We are making changes today that will result in the reduction of our overall workforce in Q4 by fewer than 4,000 jobs, representing less than 5 percent of our total employee base. Most notifications will begin on May 14…” Cisco CEO Chuck Robbins wrote in a blog post about the changes. “While we are reducing roles in some areas, we are making clear, strategic investments – particularly in silicon, optics, security, and in our employees’ use of AI across the company,” Robbins wrote. “These investments are building from a position of strength – and focusing on the technologies and businesses that will accelerate our growth, deliver unmatched innovation to customers and partners, and define our future.” “The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuou