From Cisco to Block, more companies are pointing to AI when unveiling job cuts

Cisco and Block are among the latest firms to point to AI investments when announcing workforce reductions. Cisco's CEO stated that the company must make 'hard decisions' to invest in AI, echoing similar language used by other tech firms.

The report highlights a growing trend of companies using AI as justification for layoffs, even as they report strong revenue growth.

Analysts note that while AI may automate certain tasks, the current wave of layoffs often coincides with broader cost-cutting measures and shareholder pressure, rather than immediate AI replacement of workers.