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Cisco Cuts 4,000 Jobs on Same Day It Reports Record $15.8B Quarterly Revenue — AI Infrastructure Target Raised to $9B
Cisco announced nearly 4,000 layoffs (under 5% of workforce) on May 14 while simultaneously posting record Q3 revenue of $15.8 billion, up 12% year-over-year. The company is reallocating investment to AI infrastructure, raising its FY26 AI target from $5B to $9B (already $5.3B booked YTD). Networking product orders rose 50%+ and data center switching orders grew 40%+ year-over-year.
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