Tech Layoffs: Cisco Reports Record Growth, Then Trims 4,000 Jobs to Fuel AI Pivot

Cisco Systems delivered a 12% year-over-year revenue surge to $15.8 billion in Q3 2026, yet announced layoffs impacting 4,000 employees. CEO Chuck Robbins emphasized the cuts are strategic, enabling Cisco to reallocate capital toward AI infrastructure specifically silicon, optics, security, and enterprise AI tools. The restructuring aligns with a wider Silicon Valley trend where companies like Microsoft, Oracle, Meta, and Amazon are prioritising AI and efficiency despite strong financial perform