Cisco Announces Restructuring Plan Affecting 4,000 Employees Amid AI Pivot
Cisco Systems announced a significant corporate restructuring on Wednesday, confirming plans to lay off approximately 4,000 employees as part of a strategic pivot to prioritize artificial intelligence and cybersecurity. The workforce reduction, representing roughly 5% of the company’s global staff, was disclosed alongside a quarterly earnings report that revealed $15.8 billion in revenue, signaling a…