Cisco Cuts 4,000 Jobs in AI-Focused Restructuring While Raising Revenue Forecast to $63B

Cisco announced it will cut nearly 4,000 jobs (less than 5% of its 86,200 workforce) as part of an AI-focused restructuring, while simultaneously raising its annual revenue forecast to $62.8-63 billion from $61.2-61.7 billion. The company has received $5.3 billion in AI infrastructure orders from hyperscalers so far this fiscal year, raising its full-year order expectation from $5 billion to $9 billion. Q3 revenue was $15.84 billion, beating estimates of $15.56 billion. CFO Mark Patterson said it is reasonable to expect at least $6 billion in AI hyperscale revenue in FY2027. The restructuring will cost up to $1 billion, with $450 million recognized in Q4.