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Home/News Feed/Cisco to cut nearly 4,000 jobs amid AI-focused strategy shift after strong earnings
CSCO
$111.75
-$0.02 -0.02%

Cisco to cut nearly 4,000 jobs amid AI-focused strategy shift after strong earnings

Company Fundamentals
13 May 2026
Fox Business
View Source
Bullish
pluang ai news

Cisco Systems announced plans to lay off nearly 4,000 employees, less than 5% of its global workforce, as part of a strategic shift toward artificial intelligence (AI). This move follows a strong Q3 FY2026 earnings report, with revenue hitting a record $15.8 billion and adjusted earnings per share exceeding expectations. Cisco is redirecting investments to high-demand areas like AI, security, and networking, securing $5.3 billion in AI infrastructure orders so far this year and projecting up to $9 billion by FY2026. The company will support affected workers with severance and job placement assistance, expecting restructuring costs up to $1 billion.

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Cisco Systems rated a buy with 21% upside on AI and tech upgrades driving growth through 2027.

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