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Cisco announces record revenue and 4,000 layoffs in the same day (arstechnica.com)
submitted 2 months ago by VetOfTheSeas@discuss.online to c/business@lemmy.world
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[-] floofloof@lemmy.ca 8 points 2 months ago* (last edited 2 months ago)

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Mark Zuckerberg's social media giant [Meta] will reportedly hand out roughly 8,000 pink slips on Wednesday, May 20, eliminating about 10% of its global workforce. Notably, though, these cuts will arrive on the heels of one of the most lucrative quarters in the company's history: $56.31 billion in revenue and $26.8 billion in net income for the first three months of 2026...

https://moneywise.com/news/top-stories/meta-layoffs-8000-workers-zuckerberg-ai-spending

this post was submitted on 16 May 2026
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