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Analysts expect demand for Cisco's products to remain under pressure, as clients in the telecom industry restrict spending, prioritizing clearing their excess inventory of networking gear.
Cisco had almost 85,000 employees as of last year, suggesting that the move will involve approximately 4,000 jobs. The restructuring will cost about $500 million.
Meanwhile, Cisco is focusing on artificial intelligence and partnership with Nvidia to boost growth. CEO Robbins said Nvidia agreed to use Cisco's ethernet with its own technology that is widely used in data centers and AI applications.
Check snapshot of job cuts across US and Canada this year.
Cisco Systems plans to cut 4000 employees of its global workforce in restructuring amidst various tech layoffs.