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- Cisco is reducing its workforce by 5%, amounting to about 4,000 jobs.
- The layoffs are part of the company's plan to realign and invest in key priority areas.
- Cisco is also expanding its partnership with Nvidia to help firms build AI infrastructure.
Cisco is cutting 4,000 jobs in a move that will reduce its workforce by about 5%.
The IT hardware and software maker said the cuts, announced alongside its quarterly results on Wednesday, will result in costs of $800 million related to severance packages and benefits. It has about 85,000 staff.