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Cisco cuts nearly 4,000 jobs to boost AI and cybersecurity investments despite record revenue

Market News
14 May 2026
TechCrunch
View Source
Neutral
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Cisco is cutting about 4,000 jobs, around 5% of its workforce, to restructure costs and increase spending on AI and cybersecurity. This move comes even as the company reported record quarterly revenue and double-digit growth. Cisco aims to address security vulnerabilities in its products and enhance AI use across the company. The layoffs follow a trend among tech firms prioritizing AI investments while trimming staff, despite strong financial results.

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