Silicon Valley tech giant posts record revenue, then cuts 4,000 jobs - San Francisco Chronicle
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- Cisco reported record revenue in its latest earnings period, the highest in the company's history.
- Cisco announced it will cut about 4,000 jobs, a workforce reduction of roughly a percent of its global staff.
- Cisco shares rose roughly 17% after the earnings announcement, spurred by strong demand for AI‑related products.
Why it matters: Shareholders gain a 17% share price jump, while roughly 4,000 workers lose their jobs; Cisco’s AI‑driven revenue surge fuels growth even as it trims its workforce.
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