Cisco cuts nearly 4,000 jobs to spend more on AI, reports record quarterly revenue

Cisco will cut fewer than 4,000 jobs, or about 5% of its workforce, as it shifts spending toward AI and cybersecurity.

The layoffs come after stronger-than-expected fiscal third-quarter results, including record quarterly revenue and solid profit.

CEO Chuck Robbins said the company is reshaping costs to fund growth priorities, not because of weak demand.

The move reflects a wider tech trend of trimming staff to pay for AI investment and security upgrades, while Cisco continues to face network security concerns.