Cisco to cut 4,000 jobs

Networking giant Cisco Systems has announced a restructuring plan that will eliminate approximately 4,000 jobs, or 5% of its global workforce.

The move comes as the company reports record quarterly revenue but seeks to shift investment toward artificial intelligence and high-growth infrastructure.

CEO Chuck Robbins stated that the cuts are necessary to 'streamline operations' and maintain competitiveness in a rapidly evolving market.

Cisco is the latest in a series of major tech firms, including LinkedIn and Block, to announce significant layoffs linked to AI adoption.

Affected employees will receive severance packages and career transition support.