Cisco reported record revenue for its fiscal third quarter while announcing it will cut fewer than 4,000 jobs starting immediately. The moves come as the company shifts resources toward artificial intelligence and related technologies.
Cisco chief executive Chuck Robbins said the company achieved revenue of $15.8 billion in the quarter, up 12 percent from a year earlier. He praised employees for the growth but added that the firm must realign its workforce to focus on silicon, optics, security, and AI applications.
