"In a blog post published Wednesday, Cisco's chief executive Chuck Robbins touted the company's “record revenue” and “double-digit growth,” while acknowledging that the company was making strategic investments “in our employees' use of AI across the company.” According to public filings, Robbins was slated to earn more than $52 million in executive compensation during 2025."
Cisco plans to reduce headcount by fewer than 4,000 roles, about 5% of its workforce, after reporting better-than-expected profit and revenue in its fiscal third quarter. The company says the layoffs are intended to change its cost structure and enable greater investment in AI and cybersecurity. The move aligns with a broader pattern among technology firms that cite AI spending priorities when reducing staff. Cisco also plans to increase cybersecurity investment due to ongoing security vulnerabilities affecting its routers and firewalls, which have enabled hackers to access customer networks, including government networks. Cisco previously faced a data breach that affected customers’ personal information. Cisco’s CEO highlighted record revenue and double-digit growth while referencing strategic investments in employees’ use of AI. Executive compensation details were reported in public filings, and additional job cuts have occurred in 2024 and 2025.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]