Cisco Bets $9B on AI Networking, Cuts 4,000 Jobs
Cisco reported record quarterly revenue of $15.8B and immediately announced 4,000 layoffs, raising its FY2026 AI infrastructure order target from $5B to $9B.
Articles Tagged "Layoffs"
Cloudflare Cuts 1,100 Jobs as AI Use Surges 600%
Cloudflare cut 1,100 workers - 20% of its staff - while posting record quarterly revenue of $639.8 million, saying AI has made those roles obsolete in just three months.
Meta Earns Record $56B, Cuts 8K Jobs to Fund $145B AI
Meta posted a record Q1 2026 revenue of $56.3 billion on April 29, then announced 8,000 layoffs and raised its AI infrastructure budget to $145 billion - sending the stock down 7% despite the record earnings.
Snap Fires 1,000 as AI Now Writes 65% of Its Code
Snap cut 16% of its workforce on April 15, citing AI-generated code as the direct cause. The stock jumped. The workers left. Here is what the company's own numbers actually say.
The AI Layoff Trap - Game Theory Says Everyone Loses
A UPenn-BU paper models AI-driven layoffs as a Prisoner's Dilemma: each firm wins by automating, but when everyone does it, collapsing demand makes every firm worse off. Their proposed fix is a Pigouvian tax on automated tasks.
Atlassian Cuts 1,600 Jobs to Self-Fund AI Pivot
Atlassian is laying off 10% of its workforce and splitting its CTO role in two to redirect cash toward AI development - but the company's own CEO pledged a hiring surge five months ago.
Meta Stock Surges as It Plans to Cut 16,000 Jobs for AI
Meta is reportedly planning to lay off 20% of its 79,000 workforce to offset $135 billion in AI spending - and the stock went up 3% on the news.
Naval Ravikant: AI Eats Software Amid $1T SaaS Crash
Naval Ravikant declared 'AI is eating software' as the SaaSpocalypse erased over $1 trillion in SaaS market value, with Atlassian cutting 1,600 jobs after its first decline in enterprise seats.
ServiceNow CEO Says AI Could Push Grad Unemployment Past 30%
ServiceNow CEO Bill McDermott told CNBC that AI agents could drive college graduate unemployment into the mid-30% range, while his own company has automated 90% of customer service use cases.
Oracle Plans 30,000 Layoffs to Fund $50B AI Data Center Bet
Oracle is cutting up to 30,000 jobs to free $8-10 billion in cash flow for AI data centers, the largest AI-driven corporate restructuring announced to date.
Jack Dorsey Fires Half of Block's Workforce, Says Every Company Will Do the Same Within a Year
Block CEO Jack Dorsey cut 4,000 employees - nearly half the company - citing AI tools as the reason, then predicted the majority of companies will make similar structural changes within 12 months. Wall Street rewarded him with a 25% stock surge. The evidence says he is wrong.
55,000 Workers Were Told AI Took Their Jobs - The Real Story Is More Complicated
Challenger Gray data shows AI-attributed layoffs hit 55,000 in 2025, a 12x increase from two years prior, but economists at Oxford and Yale say companies may be using AI as a convenient pretext for cuts they planned anyway.
