Cisco Systems announced layoffs affecting fewer than 4,000 employees. This reduction represents less than 5% of its total workforce. The company reported a record quarterly revenue of $15.8 billion. Cisco is reallocating investments towards artificial intelligence priorities. The restructuring program is expected to cost approximately $1 billion.
https://www.peoplematters.in/news/strategic-hr/cisco-announces-5percent-layoffs-while-posting-record-dollar158-billion-revenue-49730