Cisco cuts nearly 4,000 jobs to spend more on AI, reports ‘record quarterly revenue’
This is Cisco’s latest layoff in recent years, while the company’s chief executive touts record revenue and growth.
Layoffs
GM just laid off hundreds of IT workers to hire those with stronger AI skills
Some of the positions focus on AI-native development, data engineering and analytics, cloud-based engineering, and agent and model development as well as prompt engineering and new AI workflows.
Laid-off Oracle workers tried to negotiate better severance. Oracle said no.
Some found out they didn’t qualify for WARN Act protections like two-months notice because the company had classified them as remote workers.
Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high
CloudFlare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn’t need as many support roles.
Truecaller slashes 70 jobs amid declining ad sales
Truecaller’s ad revenue declined by 44%, leading to the layoffs.
Redwood Materials loses COO amid layoffs, restructuring
Former Tesla executive Chris Lister is retiring, and at least three other VPs have left Redwood around the recent restructuring, TechCrunch has learned.
What founders can learn from Anjuna’s layoffs and recovery
In 2021, Anjuna Security was growing fast, hiring aggressively, and chasing a market that seemed limitless. By the end of that year, the venture-backed cybersecurity company had scaled to around 75 employees, building out sales, customer success, and support teams in anticipation of continued hypergrowth. Then 2022 hit.