<\/p>
Cisco announced plans to cut over 5% of its workforce, affecting over 4000 employees, to expand its artificial intelligence (AI) business. The company is reportedly restructuring its workforce to invest in other fast-growing business areas. The company has also increased its annual revenue forecast due to demand from \u201chyperscalers.\u201d\u00a0<\/p>
As of now, Cisco has not revealed which teams and regions are impacted by the recent restructuring drive. However, it is said that the impacted employees will be notified on May 14.<\/p>
Must read:\u00a0After 30,000 global layoffs, Oracle reportedly pulls NIT placement offers, leaving students in limbo<\/strong><\/p> In an internal memo, Cisco CEO Chuck Robbins said that Cisco achieved a record Q3 revenue of $15.8 billion, marking a 12 per cent increase year-on-year. Despite the profit, the company needs to make a hard decision, he added.<\/p> \u00a0\u201cThe companies that will win \u200bin the AI era will be those with focus, urgency, and the discipline to continuously shift \u200binvestment toward the areas where demand and long-term value creation are strongest,\u201d Robbins said.<\/p> The company further stated that it is focusing more on resources such as silicon, optics, security, and AI-driven workplace tools as it scales back in certain business areas.<\/p> Must read:\u00a0\u2018We need to take down the size of the company\u2019: Meta CEO Mark Zuckerberg signals more layoffs<\/strong><\/p> Ryan Lee, Direxion’s senior vice president of product and strategy, added, \u201cThough much will likely be made about a slight decrease in headcount, the post-market move we are seeing \u200bis truly the result of hyperscaler capex spilling downstream. This move validates that this capex is about \u200bmore than just chips.\u201d<\/p> The company claims to offer support, bonus payments, and other benefits to the impacted employees. In its regulatory filing, Cisco expects to spend over $1 billion in severance pay. In addition, the company also claims to offer access to Cisco U courses and certifications to impacted employees for up to 1 year.<\/p> <\/div> Cisco, Cisco layoff, Cisco AI restructuring, Cisco job cuts, Cisco 4000 layoff, Cisco India layoff, tech layoffs, layoffs, AI, AI job replacement, Cisco earnings, Cisco AI investment, AI investment#Cisco #laid #employees #AIdriven #restructuring1778738253<\/p> ","protected":false},"excerpt":{"rendered":" Cisco announced plans to cut over 5% of its workforce, affecting over 4000 employees, to expand its artificial intelligence (AI) business. The company is reportedly restructuring its workforce to invest in other fast-growing business areas. The company has also increased its annual revenue forecast due to demand from \u201chyperscalers.\u201d\u00a0 As of now, Cisco has not […]<\/p>\n","protected":false},"author":1,"featured_media":8116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[99,6720,30444,800,30438,30442,30446,30440,30445,30443,30441,30439,10642,30447,9916,30448,20908],"class_list":["post-8115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-content-marketing","tag-ai","tag-ai-investment","tag-ai-job-replacement","tag-aidriven","tag-cisco","tag-cisco-4000-layoff","tag-cisco-ai-investment","tag-cisco-ai-restructuring","tag-cisco-earnings","tag-cisco-india-layoff","tag-cisco-job-cuts","tag-cisco-layoff","tag-employees","tag-laid","tag-layoffs","tag-restructuring","tag-tech-layoffs"],"acf":[],"_links":{"self":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/8115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8115"}],"version-history":[{"count":0,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/8115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/media\/8116"}],"wp:attachment":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8115"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}