Cisco jumps on strong revenue forecast, AI push with job cuts reut.rs/4d9Afcv

Freshworks to cut 11% jobs as AI reshapes software industry reut.rs/3QTYB14

This is Cisco's latest layoff in recent years, while the company's chief executive touts record revenue and growth.

As with many recent layoffs at tech companies, Cisco’s job losses were attributed primarily to the growth of AI.

Arista forecasts upbeat quarterly revenue on AI-driven networking demand reut.rs/4wFBaZz

Applied Materials sees quarterly revenue above estimates on sustained AI spending reut.rs/4uTHvzk

Western Digital forecasts quarterly revenue above estimates on AI storage demand reut.rs/4tPeLra

Strong ASML, TSMC forecasts signal AI spending boom is intact reut.rs/4myC71r

Layoffs are "not a savings-driven restructure," CFO says.