What's happened
Cisco plans to slash its headcount by 5% and focus on artificial intelligence, resulting in $800 million in pre-tax charges related to severance and benefits.
Why it matters
The layoffs and strategic shift highlight the ongoing transformation of tech companies and the increasing importance of AI in the industry.
What the papers say
NY Post reports Cisco's CEO emphasizing the company's innovation and its role in an increasingly connected ecosystem, while AP News provides a broader context of technology companies downsizing and the impact on the industry.
How we got here
Cisco's layoffs come amid a broader trend of technology companies reducing their workforces and refocusing on high-growth areas such as AI and software development.
More on these topics
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Artificial intelligence, sometimes called machine intelligence, is intelligence demonstrated by machines, unlike the natural intelligence displayed by humans and animals.