capital · May 20, 2026
Cisco CEO Chuck Robbins Announces Q3 2026 Results and Nearly 4,000 Job Cuts
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Cisco CEO Chuck Robbins reported fiscal Q3 2026 revenue of $15.8 billion, up 12% year-over-year, on May 13, 2026. The company simultaneously announced it will cut fewer than 4,000 jobs, less than 5% of its workforce, as part of a restructuring expected to cost up to $1 billion in severance. Cisco is reallocating resources to silicon, optics, security, and AI infrastructure, with orders in that segment now projected to reach $9 billion this fiscal year instead of the prior $5 billion forecast. CFO Mark Patterson stated the moves are not savings-driven but focused on strategic realignment. Cisco completed its $28 billion acquisition of Splunk in March 2024.
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