High confidence
Aug 14, 2024
Cisco
−5,600 ~5,600 (7% of workforce)
Attribution · verbatim quote
“We're shifting hundreds of millions of dollars into AI, into AI networking for cloud, into AI infrastructure, silicon, and cyber.”
— Chuck Robbins (ceo)
Summary
Cisco's second 2024 layoff cut ~5,600 roles. CEO Chuck Robbins explicitly framed the cuts as redirecting investment into AI networking, security and silicon. This followed an earlier February 2024 cut of ~4,000 roles.
Evidence notes
- · Quote from Cisco Q4 2024 earnings call.
- · Cisco took $1B in pretax restructuring charges.