Cisco announces record revenue and 4,000 layoffs in the same day

During a call with investors on Wednesday night, Cisco executives discussed the layoffs further, with CFO Mark Patterson saying, “This was really not a savings-driven restructure,” according to a transcript of the call. “Things are moving incredibly fast right now,” he said. “And this is more realigning from an already strong base, as you’re seeing in our financials, but really realigning resources around silicon, optics, security, and AI. …