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Cisco CFO Scott Herren has told analysts that an AI-focused restructure may see the company lay off near 7 per cent of its workforce (around 6000 people).
This follows a round of lay-offs announced in February, where 5% of its workforce were cut to reduce its reliance on its networking equipment business.
The company intends to shift its focus to high-growth areas such as AI and cybersecurity and unify its networking, security and collaboration departments. The consolidated units will be led by Jeetu Patel.
The move to AI was made evident through its recent $28bn deal for Splunk and the launch of a $1bn fund for AI startups.
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