AIForbes Innovationabout 11 hours ago
Layoffs fund AI bets, not savings
1 min read
Cisco, Meta, and Intuit cut thousands of jobs while reporting record profits. Executives describe the layoffs as cost reallocation to fund AI investments, not efficiency savings. Cisco raised its expected fiscal-2026 AI orders to $9 billion from $5 billion. Meta's finance chief said a leaner model would offset substantial AI investments.
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