Search results for Chuck Robbins
AI & Enterprise
Cisco to cut about 4,000 jobs as it steps up AI investment
Cisco will cut about 4,000 jobs this quarter to expand investment in AI, the Wall Street Journal reported on May 13. The reduction is less than 5 percent of its workforce. CEO Chuck Robbins said the restructuring is aimed at better allocating resources rather than cutting costs. The company expects restructuring charges of up to $1 billion. Cisco reported higher third-quarter revenue and net profit and raised its full-year revenue forecast.
Crypto
Crypto ties account for 40 percent of U.S. CEO delegation joining Trump\'s China visit
About 40 percent of the U.S. CEO delegation accompanying President Donald Trump on his China visit is directly or indirectly linked to cryptocurrency businesses, a report said. Trump is expected to visit Beijing this week with about 17 executives to meet President Xi Jinping, with the trip set for May 13 to 15. The delegation spans technology, finance, aerospace and agriculture, while attention focuses on firms tied to digital assets and related market implications.
AI & Enterprise
Cisco shares fall 7 percent on weak forecast despite strong results
Cisco posted quarterly revenue of $15.4 billion and net income of $3.18 billion, beating market expectations, but its outlook fell short and its shares dropped 7 percent, CNBC reported on Feb. 11. Networking revenue rose 21 percent to $8.3 billion, and AI infrastructure orders increased to $2.1 billion. CEO Chuck Robbins highlighted an AI project in Saudi Arabia and networking switches with Nvidia chips. Cisco forecast 2026 fiscal-year revenue of $61.2 billion to $61.7 billion.