Cutting Jobs to Fund AI: A Glimpse into Tech's Troubled Priorities Cisco is cutting nearly 4,000 jobs to "change its cost structure" and invest in artificial intelligence (AI) and cybersecurity.
This decision comes despite the company reporting record revenue and double digit growth. The trend of job cuts in tech is not unique to Cisco.
Cloudflare and General Motors have also laid off staff recently, citing strong financial results. However, this pattern suggests that companies are prioritizing innovation over people and growth over stability.