By Queenie Wong
Publication Date: 2026-05-14 17:14:00
Job cuts are hammering the tech industry as companies ramp up investments in artificial intelligence.
This week, San José-based tech company Cisco said it was cutting fewer than 4,000 jobs or less than 5% of its workforce. Cisco announced the layoffs the same day that the company reported that it grew its revenue to $15.8 billion and net income to $3.4 billion for the third quarter ending in April.
Cisco Chief Executive Chuck Robbins told employees in an email that he’s “confident” that the company will “win in the AI era” but that requires “focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest.”
“This means making hard decisions — about where we invest, how we’re organized, and how our cost structure reflects the opportunity in front of us,” he told employees in the email, which was published on Cisco’s website.
Cisco provides products and services in areas such as…
