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.
“We are making changes today that will result in the reduction of our overall workforce in Q4 by fewer than 4,000 jobs, representing less than 5 percent of our total employee base,” he wrote. “Most notifications will begin on May 14 and continue globally in alignment with applicable local laws and regulations.”
