genai / news / / SiliconANGLE News
Cisco announces new round of job cuts, saying it will cut fewer than 4,000 jobs, representing less than 5% of its workforce.
Cisco reported $5.3 billion in AI infrastructure orders from hyperscalers so far this year.
KEY POINTS
- Cisco raised its full-year AI order forecast to $9 billion, up from $5 billion initially.
- Cisco will cut fewer than 4,000 jobs, incurring pre-tax charges of about $1 billion.
- Cisco acquired Astrix Security for nearly $300 million to boost 'agentic' security offerings.
- Networking segment revenue jumped 25% to $8.82 billion, surpassing forecasts.
COMPANIES
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