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Cisco cuts nearly 4,000 jobs to spend more on AI, reports ‘record quarterly revenue’

CN
CitrixNews Staff
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Cisco cuts nearly 4,000 jobs to spend more on AI, reports ‘record quarterly revenue’

Technology giant Cisco is cutting fewer than 4,000 jobs, or around 5% of its workforce, despite reporting better-than-expected profit and revenue in its fiscal third quarter. 

The networking equipment maker said it reducing its headcount in order to change its “cost structure” and invest in AI and cybersecurity.

Originally reported by TechCrunch