Cisco Announces Major Restructuring: 7% Workforce Cut Amid Shift to AI and Security
12 Sources
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Cisco announces new restructuring plan, to cut 7% of workforce
Cisco Systems announced a restructuring plan on Wednesday saying it would cut 7% of its global workforce, while also lowering its annual revenue target. The California-based company plans to invest in key growth opportunities and drive more efficiencies. It estimates it will recognize pre-tax
[2]
Cisco reveals plan to cut thousands of jobs as it beats earnings forecast
Cisco reveals plan to cut thousands of jobs as it beats earnings forecast Shares of Cisco Systems Inc. rose in extended trading today after the networking company said it's cutting 7% of its global workforce and reported quarterly financial results that topped analysts' estimates. The layoffs,
[3]
Cisco cutting 7% of workforce as it shifts focus to AI, cybersecurity
Cisco Systems is planning to lay off 7% of its employees, its second round of job cuts this year, as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. The company based in San Jose, California, did not specify the number of
[4]
Cisco reveals plan to cut thousands of jobs as it beats expectations in its latest financial results - SiliconANGLE
Cisco reveals plan to cut thousands of jobs as it beats expectations in its latest financial results Shares of Cisco Systems Inc. were moving higher in extended trading today after the networking company said it's cutting 7% of its global workforce and reported quarterly financial results that
[5]
Cisco Systems to Cut About 7% of Staff in Second Round of Layoffs
Cisco Systems, one of the largest makers of computer networking equipment, said on Wednesday that it would cut 7 percent of its work force in its second major round of layoffs this year. The company did not say how many workers would be affected, but it reported it had 84,900 employees in July
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Cisco cuts thousands of jobs, 7% of workforce, as it shifts focus to AI, cybersecurity
SAN JOSE, Calif. (AP) -- Cisco Systems is planning to lay off 7% of its employees, its second round of job cuts this year, as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. The company based in San Jose, California, did
[7]
Cisco slashes seven percent of workforce
Networking titan Cisco has confirmed in a filing with the Securities Exchange Commission (SEC) that it is eliminating 7 percent of its global workforce as it embarks upon a restructuring plan. Switchzilla currently employs almost 85,000 people - meaning around 6,000 employees are about to get bad
[8]
Cisco cuts thousands of jobs as it shifts focus to AI, cybersecurity
SAN JOSE, Calif. -- Cisco Systems is planning to lay off 7% of its employees, its second round of job cuts this year, as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. The company based in San Jose, California, did not
[9]
Cisco Cuts Thousands of Jobs, 7% of Workforce, as It Shifts Focus to AI, Cybersecurity
SAN JOSE, California (AP) -- Cisco Systems is planning to lay off 7% of its employees, its second round of job cuts this year as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. The company based in San Jose, California,
[10]
Cisco earnings beat expectations as company announces 7% cut to workforce
Aug. 15 (UPI) -- Cisco Systems' earnings and revenue topped Wall Street estimates on Wednesday, despite a third straight quarter of losses and an announced 7% cut to its global workforce, as the tech company shifts focus to artificial intelligence. Cisco released its earnings after Wednesday's
[11]
Cisco cuts jobs, shifts focus to AI, cybersecurity
Cisco Systems is planning to lay off 7 per cent of its employees, its second round of job cuts this year, as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. The company based in San Jose, California, did not specify the
[12]
Cisco to cut thousands of jobs as it focuses on AI and cybersecurity
Cisco did not specify the number of roles it will cut and it is unclear how many Irish jobs will be impacted as a result. Cisco is planning a second round of job cuts this year, as it aims to cut roughly 7pc of its global staff as it focuses on certain sectors such as cybersecurity and AI. The
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Cisco Systems, the networking giant, reveals plans to lay off 4,100 employees as part of a strategic restructuring. The company aims to focus more on AI and cybersecurity while beating earnings forecasts.
Cisco's Restructuring Plan
Cisco Systems, the networking technology leader, has announced a significant restructuring plan that includes cutting approximately 4,100 jobs, representing about 7% of its global workforce
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. This move comes as the company shifts its focus towards artificial intelligence and cybersecurity, adapting to the evolving tech landscape3
.Financial Performance and Market Response
Despite the job cuts, Cisco has reported better-than-expected financial results for its latest quarter. The company's revenue rose 8% year-over-year to $14.6 billion, surpassing analyst expectations
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. This positive performance led to a 3% increase in Cisco's stock price in after-hours trading4
.Strategic Shift and Industry Trends
Cisco's restructuring is part of a broader strategy to align with emerging technologies and market demands. The company plans to invest more heavily in AI and security solutions, areas that are seeing rapid growth and increased customer interest
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. This shift reflects a trend in the tech industry, where companies are adapting to the increasing importance of AI and cybersecurity in business operations.Related Stories
Impact on Employees and Operations
The job cuts will affect various departments across Cisco's global operations. The company has stated that it will provide support to affected employees, including severance packages and transition assistance
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. Cisco expects to incur pretax charges of about $800 million related to the restructuring, with approximately $300 million recognized in the current quarter2
.Industry Context and Future Outlook
Cisco's move follows a pattern of job cuts in the tech sector, with other major companies like Meta, Amazon, and Microsoft also announcing significant layoffs in recent months
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. The restructuring is seen as a proactive step to position Cisco for future growth in high-demand areas such as AI and cybersecurity. CEO Chuck Robbins emphasized the company's commitment to innovation and meeting evolving customer needs in these domains5
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