Cisco CEO Chuck Robbins announced up to 4,000 layoffs beginning May 14, representing less than 5% of the workforce, on the same day the company reported record Q3 2026 revenue of $15.8 billion — a 12% year-over-year increase. The cuts are framed as a strategic shift toward AI investment rather than cost savings, with Cisco redirecting resources into silicon, optics, security, and internal AI adoption. The company has sold $5.3 billion in AI infrastructure to hyperscalers this fiscal year and now expects full-year AI orders to reach $9 billion.
Sort: