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Cisco CEO explains 7% job cuts, AI focus
On Cisco’s Wednesday call with analysts – on which executives covered results from the fourth fiscal quarter ended 27th July – Cisco CEO Chuck Robbins said his team is “shifting hundreds of millions of dollars into AI,” including AI networking for cloud, AI infrastructure, silicon and cybersecurity – part of the reason for mass layoffs confirmed just before the call.
"It's a meaningful shift, but we feel like the market is moving so quickly, we have to do that," he said. On the call, Scott Herren, executive vice president and CFO of Cisco, said the restructu...
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