Cisco Axes Thousands of Jobs Amid AI and Cybersecurity Shift
Cisco to lay off thousands as it shifts focus to cybersecurity and AI, aiming to boost financials despite declining revenues and profits.
Hot Take:
Looks like Cisco is playing a risky game of ‘musical office chairs,’ but instead of a catchy tune, they’ve got the sounds of cybersecurity and AI humming in the background. About time to invest in some noise-canceling headphones for those left standing!
Key Points:
- Cisco is planning another massive round of layoffs, potentially cutting thousands of jobs.
- The layoffs coincide with a major push to expand its cybersecurity and AI capabilities.
- Cisco’s Q4 revenues are expected to drop significantly, with a forecast of $13.4-$13.6 billion.
- The company has recently acquired Splunk for $28 billion to bolster its data analytics expertise.
- Other tech giants like Intel and Dell are also laying off substantial portions of their workforce.
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