Read the memo: Cisco to cut about 4,000 jobs in AI-driven restructuring

Source: Business Insider

Cisco on Wednesday announced it would conduct layoffs affecting about 4,000 staff, or under 5% of its workforce. WEFCisco plans to cut about 4,000 jobs to refocus on AI, affecting less than 5% of its workforce. Despite layoffs, Cisco sees strong quarterly results and raises sales forecast on AI demand.