Cisco lays off about 4,000 people, stock soars over 19%

Cisco posted record fiscal Q3 revenue of $15.8 billion, up 12%, with orders also rising sharply.

The company said it will cut just under 4,000 jobs in fiscal Q4 as it reshapes costs for the AI era.

Strong results and the restructuring signal Cisco's push to realign its network business for AI investments.

Shares jumped after the earnings report, underscoring strong investor confidence.