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Cisco Systems announced it will cut 7% of its workforce, amounting to approximately 6,000 jobs, in its second major round of layoffs this year. Earlier in February, the company had already laid off 4,000 employees. Despite exceeding Wall Street expectations in its recent earnings report, Cisco's net income dropped 45% compared to the previous year, with revenue down by 10%. The layoffs are part of the company's efforts to adapt to the industry's shift toward artificial intelligence and to integrate its recent $28 billion acquisition of Splunk, a cybersecurity and analytics company. Cisco also plans to merge its networking, security, and collaboration departments into one organization.