Tech Giant Cisco Lays Off 4,000+ Employees to Concentrate on AI

Networking giant Cisco is laying off more than 4,000 employees to shift focus and resources towards developing its AI capabilities.

The New York Post reports that Cisco, the multinational technology conglomerate, announced plans to cut more than 4,000 jobs across its global workforce in order to redirect resources into AI initiatives. The layoffs account for approximately five percent of Cisco’s 85,000 employees and are expected to cost the company $800 million in severance packages.