Cisco will cut nearly 4,000 jobs worldwide in a new restructuring, even as the San Jose tech giant reports record revenue and billions of dollars in profit.
In a memo to staff, CEO Chuck Robbins said the company is eliminating fewer than 4,000 roles, or under 5 percent of its global workforce, as it redirects spending toward artificial intelligence, security and other high growth areas. Most employees will learn this week whether their positions are affected, and Cisco has pledged severance, pro rated bonuses and job placement support for those laid off.
Regulatory filings show the restructuring will cost about 1 billion dollars in severance and related charges, with roughly 450 million dollars booked this quarter and the remainder in the 2027 fiscal year. The company has not disclosed how many jobs will be cut in the Bay Area, but the move extends a pattern of layoffs following strong earnings, as Cisco and other tech firms reshape their workforces around AI driven growth.
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