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.
Cisco Systems announced plans to lay off fewer than 4,000 employees, less than 5% of its workforce, as part of a restructuring to boost investment in artificial intelligence. The company will incur up to $1 billion in pre-tax charges, including $450 ...
Cisco reported better-than-expected earnings of $1.06 per share and revenue of $15.84 billion for the quarter ending April 25, surpassing analyst estimates. The company saw a 12% revenue increase year-over-year and raised its AI infrastructure order ...
Cisco Systems reported a 12% year-over-year revenue increase to $15.8 billion in Q3 FY 2026, with GAAP EPS rising 37% to $0.85. The growth was fueled by strong demand for AI infrastructure and networking products, including a major campus networking ...
US stock futures showed mixed results with Dow Jones futures falling while S&P 500 and Nasdaq 100 futures rose, following President Trump's visit to China accompanied by major tech CEOs including Nvidia's Jensen Huang and Apple's Tim Cook. Key stocks...
Anthropic developed Mythos, an AI model that identifies thousands of long-standing security vulnerabilities across major software platforms, prompting the company to restrict its release. This discovery led to an emergency meeting with US financial l...
