Cisco to cut thousands of jobs as AI push accelerates after earnings beat ^85.5%

Fox Business - By Bonny Chu - 5/14/2026, 1:04 AM

Framing Effect 16.2% - Ambiguity (Equivocation) 15.5% - Post Hoc (False Cause) 14.5%

Cisco Systems is planning to cut nearly 4,000 employees as part of a broader strategic shift toward artificial intelligence (AI), following a stronger-than-expected earnings report on Wednesday. The layoffs, representing less than 5% of the company’s global workforce, sent shares up roughly 20% in after-hours trading. The San Jose-based... more