.webp)
Cisco has forged a partnership with Nvidia to develop advanced AI infrastructure and has intensified its focus on cybersecurity
Cisco Systems is set to lay off approximately 6,000 employees, marking the second round of significant job cuts this year as the company shifts its focus toward AI and cybersecurity. This latest reduction, representing 7% of Cisco's global workforce, was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). In February, the company had already laid off of around 4,000 employees.
The layoffs are part of a broader restructuring plan aimed at driving efficiencies and reallocating resources to key growth areas. Cisco anticipates that the reorganization will save $1 billion in costs, with related expenses between $700 million and $800 million predicted for the first quarter of fiscal 2025. Cisco's decision to cut jobs comes as it ramps up investments in artificial intelligence. In June, the company committed $1 billion to support AI startups such as Cohere, Mistral, and Scale, highlighting its intention to foster innovation in AI solutions. Additionally, Cisco has forged a partnership with Nvidia to develop advanced AI infrastructure and has intensified its focus on cybersecurity.
The move aligns with a broader trend in the tech industry, which has witnessed significant workforce reductions in 2024. Alongside Cisco, major companies like Intel, Microsoft, Amazon, and Google have announced substantial layoffs as they navigate a challenging economic environment and redirect efforts toward emerging technologies.
.webp)
.webp)
