Cisco layoffs: San Jose company plans to eliminate 7% of workforce

Via: KTVU

SAN JOSE, Calif. - Another round of layoffs is impacting the tech world. Cisco Systems announced on Wednesday that they plan on laying off 7% of its global workforce as they shift to focus on artificial intelligence and cybersecurity. 

Cisco, the San Jose company which makes routers and switches that direct internet traffic, hasn't specified the number of jobs it is cutting. However, based on the number of employees it had as of last year, the number of jobs cut would be about 5,900. 

The internet networking pioneer announced in February that it was laying off 4,000 workers in an embrace of AI. 

In June, the company said it was investing $1 billion in tech startups, Cohere, Mistral and Scale to develop AI products. They also recently announced a partnership with Nvidia to develop infrastructure for AI systems. 

The Associated Press contributed to this story.