LinkedIn, Cisco and Amazon are the latest tech companies laying off more workers

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Job cuts are hammering the tech industry as companies ramp up investments in artificial intelligence.This week, San José-based tech company Cisco said it was cutting fewer than 4,000 jobs or less than 5% of its workforce.Cisco announced the layoffs the same day that the company reported that it grew its revenue to $15.8 billion and net income to $3.4 billion for the third quarter ending in April.Cisco Chief Executive Chuck Robbins told employees in an email that he’s “confident” that the company will “win in the AI era” but that requires “focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest.”“This means making hard decisions — about where we invest, how we’re organized, and how our cost structure reflects the opportunity in front of us,” he told employees in the email, which was published on Cisco’s website.

Cisco provides products and services in areas such as networking, cybersecurity and remote work.Business Thousands of tech workers have already lost their jobs this year and leaders at some companies say AI will enable employers to do more with smaller teams.Microsoft-owned LinkedIn, a professional social network that people use to apply to jobs, is also laying off workers.

Reuters, citing two people familiar with the matter, reported on Wednesday that LinkedIn was laying off 5% of its staff or roughly 875 people.“As part of our regular business planning, we’ve implemented organizational changes to best position ourselves for future success,” a LinkedIn spokesperson said in a statement.In a memo published on Business Insider, LinkedIn Chief Executive Daniel Shapero told employees that the cuts would impact its global business organization, marketing and engineering teams.

The company, he said, is also focusing on operating “more profitably.”“We need ...