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Networking and IT company Cisco is strategically refocusing its efforts on AI and cybersecurity — a move that will streamline development operations, but also result in the layoff of thousands of employees, or 7% of its global workforce.
Cisco’s new direction, which also marks its second round of layoffs this year, represents a major pivot for yet another tech giant adapting to changing industry demands and future work environments increasingly influenced by artificial intelligence (AI) and cyber security threats.
While the layoffs are a challenging development for the affected employees, Cisco sees this reorganization as vital to staying competitive and meeting the evolving needs of its customers.
The Associated Press reports that the company plans to improve its offerings in AI and cybersecurity — areas that are expected to dominate the future of work and enterprise IT needs in the coming years.
The broader implications of Cisco’s direction reflect overall employment trends within the tech sector. Other large tech firms including Intel, Google, and Microsoft are increasingly investing in cutting-edge AI technologies to remain competitive, which over the past year has meant making difficult decisions such as workforce reductions.
Cisco’s decision for another round of employee cuts is a reminder of the tech industry’s fast-moving nature and the increasing workplace demand for AI and cybersecurity solutions.
