Cisco's stock pops 14% on surging AI orders, as company says it's cutting almost 4,000 jobs

Cisco CEO Chuck Robbins speaks at the Semafor World Economy summit in Washington on April 15, 2026. Alex Wong | Getty Images Cisco shares soared 14% in extended trading on Wednesday after the networking company issued results and guidance that topped Wall Street's projections. The company said it's cutting its workforce this quarter by fewer than 4,000 jobs, representing less than 5% of total employees. …