Cisco is reportedly planning to lay off around 4,000 employees, marking its second round of job cuts this year. The layoffs, expected to be announced next week, come as the networking giant doubles down on its artificial intelligence initiatives. Earlier in February, Cisco laid off 4,250 employees due to declining product revenues, leaving the company with just over 80,000 workers. Cisco is also investing $1 billion in AI startups like Cohere and Scale AI to boost its AI-driven products and services.