This browser does not support the Video element.
Cisco Systems announces another round of layoffs
Another round of layoffs is coming to Silicon Valleys Cisco Systems. The San Jose company says its planning to layoff 7% of its global workforce as it shifts focus to AI and cybersecurity.
SAN JOSE, Calif. - Another round of layoffs is impacting the tech world. Cisco Systems announced on Wednesday that they plan on laying off 7% of its global workforce as they shift to focus on artificial intelligence and cybersecurity.
Cisco, the San Jose company which makes routers and switches that direct internet traffic, hasn't specified the number of jobs it is cutting. However, based on the number of employees it had as of last year, the number of jobs cut would be about 5,900.
The internet networking pioneer announced in February that it was laying off 4,000 workers in an embrace of AI.
In June, the company said it was investing $1 billion in tech startups, Cohere, Mistral and Scale to develop AI products. They also recently announced a partnership with Nvidia to develop infrastructure for AI systems.
The Associated Press contributed to this story.
This browser does not support the Video element.
Cisco Systems to lay off more than 4,000 workers in latest sign of tighter times in tech
Internet networking pioneer Cisco Systems, based in San Jose, is jettisoning more than 4,000 employees, joining the parade of technology companies in a trend that has helped boost their profits and stock prices while providing a sobering reminder of the job insecurity hanging over an industry increasingly embracing artificial intelligence. The mass layoffs announced Wednesday in conjunction with Cisco’s latest quarterly results represent about 5% of its worldwide workforce of 84,900.