capital · May 18, 2026
Cisco Cuts Nearly 4,000 Jobs to Fund AI Investments Despite Record Quarterly Revenue
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Cisco CEO Chuck Robbins announced nearly 4,000 job cuts on May 14, 2026, representing around 5 percent of the workforce. The reductions follow two prior layoffs of 4,245 employees in February 2024 and about 6,000 people in August 2024. Cisco reported record fiscal Q3 2026 revenue of $15.8 billion, up 12 percent year over year, and plans strategic investments in silicon, optics, security, and employees’ use of AI. Chuck Robbins noted the changes build from a position of strength to accelerate growth in AI infrastructure.
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