A switching device comprising one or more processors coupled to a media access control (MAC) interface and a memory structure for switching packets rapidly between one or more source devices and one or more destination devices. Packets are pipelined through a series of first processing segments to perform a plurality of first sub-operations involving the initial processing of packets received from source devices to be buffered in the memory structure. Packets are pipelined through a series of second processing segments to perform a plurality of second sub-operations involved in retrieving packets from the memory structure and preparing packets for transmission. Packets are pipelined through a series of third processing segments to perform a plurality of third sub-operations involved in scheduling transmission of packets to the MAC interface for transmission to one or more destination devices.