Cisco announced record Q3 2026 revenue of $15.8 billion, up 12% year-over-year, while simultaneously revealing plans to lay off 4,000 employees (less than 5% of its workforce). CEO Chuck Robbins attributed the layoffs to the need to shift investments toward AI and other strategic areas, with the company planning to redirect resources into silicon, optics, and security. The company also reported $5.3 billion in AI infrastructure sales to hyperscalers this fiscal year, with expectations to reach $9 billion in orders.
Background
Cisco is a major multinational technology conglomerate that develops and sells networking hardware, software, and telecommunications equipment. The company has been undergoing a strategic shift towards software and services in recent years, with AI becoming an increasingly important focus area.
- Source
- Ars Technica
- Published
- May 15, 2026 at 12:47 AM
- Score
- 6.0 / 10