Cisco said on Wednesday it would cut nearly 4,000 jobs, as part of a restructuring aimed at shifting investment toward artificial intelligence and related growth areas, and raised its annual revenue forecast after a surge in hyperscaler orders. Shares of the San Jose, California-based networking equipment maker rose more than 16 per…
The laid-off factory worker from Youngstown, Ohio, became the defining figure of American politics for the past two decades. The jobless financial professional from Philadelphia’s suburbs could be the defining figure of the future, and their demands may be harder to ignore. That’s the warning from the Fletcher School at Tufts University. The American AI…
Meta Platforms Inc. and Microsoft Corp. have both taken drastic actions to trim their workforces in an effort to streamline their operations and offset heavy spending on artificial intelligence. Meta told personnel in an internal memo on Thursday that it planned to cut 10% of workers, or roughly 8,000 employees, starting on May 20. The social-media…
The $24 billion Dutch bank ABN Amro is cutting a fifth of its workforce over the next three years—so how is its CEO Marguerite Bérard rallying the troops? By sacrificing her long meals and talking over the growing pains with staffers over weekly lunches. “I now take lunch early and at my desk,” Bérard told…