Cisco's second 2024 layoff: 5,600 jobs cut, shifts focus to AI growth

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Cisco's second 2024 layoff: 5,600 jobs cut, shifts focus to AI growth - Business Standard

Quick Summary:

The company has committed $1 billion towards AI startups and made a significant $28 billion acquisition of the cybersecurity firm Splunk.

Reports suggest that the company has left employees uncertain about which departments or teams will be affected, with further clarity expected by mid-September.

According to Robbins, inventory adjustments are complete, and the company is now seeing a return to a more normalised demand environment.