Business | LinkedIn, Cisco and Amazon are the latest tech companies laying off more workers by Queenie Wong

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Job cuts are sweeping the tech sector as companies double down on artificial‑intelligence investments. Cisco announced it will lay off fewer than 4,000 employees—under 5% of its workforce—despite reporting $15.8 billion in revenue and a $3.4 billion net profit for the quarter, with CEO Chuck Robbins saying the company must refocus spending on high‑value AI opportunities. At the same time, LinkedIn is trimming about 5% of its staff (roughly 875 jobs) across global business, marketing and engineering units, while Amazon has eliminated a small number of roles in its Selling Partner Services team after a broader plan that already cut 16,000 jobs earlier in the year. The layoffs echo similar reductions at Meta, Block, Oracle, Cloudflare and Coinbase, as firms argue that AI can boost productivity and help offset the massive costs of building AI infrastructure, prompting a wave of restructuring and cost‑saving measures across the industry.

Read more: https://www.latimes.com/business/story/2026-05-14/linkedin-cisco-amazon-are-latest-tech-companies-laying-off-more-workers

#Cisco #Amazon #LinkedIn #Meta #Oracle #Cloudflare #Coinbase #ChuckRobbins #DanielShapero #Microsoft #

Cisco CEO Warns AI Era Requires Tough Choices After 4,000 Job Cuts

https://fed.brid.gy/r/https://in.mashable.com/tech/109727/cisco-ceo-warns-ai-era-requires-tough-choices-after-4000-job-cuts

US Top News and Analysis | Cisco's stock pops 14% on surging AI orders, as company says it's cutting almost 4,000 jobs

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Cisco reported better‑than‑expected fourth‑quarter results, posting adjusted earnings of $1.06 per share versus the $1.04 consensus and revenue of $15.84 billion, up 12% from a year earlier, while net income rose to $3.37 billion. The networking giant said it has already secured $5.3 billion in artificial‑intelligence infrastructure and hyperscaler orders this year, raising its AI‑related order target to $9 billion and its AI‑driven revenue outlook to $4 billion for the full fiscal year. Those upbeat figures sent Cisco’s shares up 14% in after‑hours trading and have helped the stock gain about 33% so far in 2026. At the same time, the company announced a workforce reduction of fewer than 4,000 jobs—under 5% of its staff—effective May 14, which will cost roughly $1 billion in pre‑tax severance (about $450 million of which will be recorded in Q4). CEO Chuck Robbins said the cuts are needed to align Cisco’s cost structure with the opportunities presented by AI. Networking revenue jumped 25% to $8.82 billion, beating expectations, while security revenue held steady at roughly $2 billion.

Read more: https://www.cnbc.com/2026/05/13/cisco-csco-q3-earnings-report-2026.html

#Cisco #ChuckRobbins #WallStreet #AI #hyperscaler

Observer | 16 Business Leaders to Join Trump on High-Stakes China Trip, With Notable Absences by Rachel Curry

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President Donald Trump is set to travel to Beijing for a two‑day summit with Chinese President Xi Jinping, accompanied by a delegation of 16 top U.S. executives from technology, finance and manufacturing, including Apple CEO Tim Cook, Tesla and SpaceX founder Elon Musk, BlackRock’s Larry Fink and CEOs of Qualcomm, Micron, Boeing, Goldman Sachs and others. The visit comes amid heightened U.S.–China tensions over trade, AI, semiconductor exports, Taiwan, fentanyl trafficking and the broader geopolitical fallout of the Iran war, and signals the growing role of corporate America in diplomatic negotiations as firms seek to secure supply‑chain stability and market access. Notable absences were Nvidia’s Jensen Huang, OpenAI’s Sam Altman and Cisco’s Chuck Robbins, while the delegation is expected to discuss potential new “boards of investment” and “boards of trade” and address specific corporate interests such as Tesla’s approval for its full‑self‑driving technology and Boeing’s pursuit of a major Chinese aircraft order.

Read more: https://observer.com/2026/05/16-business-leaders-to-join-trump-on-high-stakes-china-trip-with-notable-absences/

#DonaldTrump #XiJinping #ElonMusk #TimCook #LarryFink #Tesla #SpaceX #Apple #BlackRock #Boeing #Blackstone #BrianSikes #business #cargill #ChuckRobbins #Cisco #citi #coherent #CristianoAmon #DavidSolomon #DinaPowellMcCormick #finance #geaerospace #GoldmanSachs #illumina #JacobThaysen #JaneFraser #JensenHuang #JimAnderson #KellyOrtberg #larryculp #Mastercard #Meta #MichaelMiebach #micron #Nvidia #OpenAI #policy #Qualcomm #RyanMcInerney #SamAltman #SanjayMehrotra #StephenSchwarzman #technology #trade #visa #CristianoAmon #SanjayMehrotra #JensenHuang #ChuckRobbins #SamAltman

US Top News and Analysis | Trump invites Elon Musk, Tim Cook, Larry Fink and other CEOs to join China trip for Xi summit

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President Donald Trump has invited a delegation of top U.S. executives—including Tesla CEO Elon Musk, Apple CEO Tim Cook, BlackRock CEO Larry Fink, Boeing CEO Kelly Ortberg, as well as leaders from Blackstone, Cargill, Citi, Cisco, GE Aerospace, Goldman Sachs, Illumina, Mastercard, Meta, Micron, Qualcomm, Visa and others—to join his trip to China for meetings with President Xi Jinping, with the agenda focused on trade, artificial‑intelligence cooperation, export controls, Taiwan and the Iran conflict, and with Trump hoping to secure a series of business deals and purchase agreements during the summit.

Read more: https://www.cnbc.com/2026/05/11/trump-ceos-elon-musk-tim-cook-larry-fink-xi-china-summit.html

#Trump #ElonMusk #TimCook #LarryFink #XiJinping #BlackRock #Boeing #Blackstone #Citigroup #GoldmanSachs # #DonaldTrump #KellyOrtberg #StephenSchwarzman #BrianSikes #JaneFraser #ChuckRobbins #JimAnderson #LawrenceCulp #DavidSolomon #JacobThaysen #MichaelMiebach #DinaPowellMcCormick #SanjayMehrotra #CristianoAmon #RyanMcInerney

Soaring revenues? Time to hollow-out the company and make off with all the loot… said Robbin[g]s

Madilynne Medina: Bay Area tech titan announces mass layoffs just after soaring revenue report at #CISCO

"In a Thursday interview with CNBC on the same day of the report, #CEO Chuck Robbins addressed #AI technology in the company’s workforce."

#enshittification #ChuckRobbins
https://www.sfgate.com/tech/article/bay-area-tech-titan-announces-layoffs-strong-20826542.php

>>Axios has learned that "examples of good partners" on the White House list include Uber, DoorDash, United, Delta, AT&T, Cisco, Airlines for America and the Steel Manufacturers Association.<<

https://www.axios.com/2025/08/15/white-house-rating-big-beautiful-bill
#USPol #Axios #Uber #DoorDash #UnitedAirlines #DeltaAirlines #ATT #Cisco #LoyaltyRating #SocialCreditScore #ChuckRobbins