Cisco announces record revenue and 4,000 layoffs in the same day
Layoffs are "not a savings-driven resutrcture," CFO says.
Following a quarter in which his company delivered record revenue, Cisco CEO Chuck Robbins announced that the company's latest round of layoffs begins today.
In a blog post yesterday, Robbins was quick to boast that Cisco’s fiscal Q3 2026 earnings saw revenue increase 12 percent year-over-year to $15.8 billion. He told employees that he and the rest of Cisco’s executive leadership team “could not be prouder of the growth you have all delivered for Cisco.”
But that pride could apparently not save the company’s successful employees from unemployment.
This story was first published by Ars Technica. Read the original report