Cisco To Cut Almost 4,000 Jobs In AI-Driven Restructuring

Cisco's stock soared 17% after the company announced it will cut nearly 4,000 jobs as it shifts investment and staffing toward higher-growth AI opportunities. CNBC reports: CEO Chuck Robbins wrote in a blog post on Wednesday that the latest round of job cuts will begin on May 14. Cisco is the latest company to announce head count reductions tied to AI.