Cisco reportedly shedding 20% of its workforce

News by Greg Masters

The world's biggest networking equipment company, Cisco Systems, will layoff about 14,000 employees.

The world's biggest networking equipment company, Cisco Systems, will lay off about 14,000 employees, according to CRN.

It's expected that within weeks the San Jose, Calif.-based technology company will announce it is downsizing its global workforce by 20 percent, the biggest layoff in the company's three-decades-long existence. Sources claimed early retirement packages were offered to workers.

The reduction is said to be owing to the company's migration from a hardware provider to a software-based firm. A shift in the industry to the cloud, which needs less workers to service the back-end, was given as another reason. Other experts posit that a slowdown in spending for network switches and routers by telecom carriers and enterprises is the primary reason.

Cisco has turned its attention to data analytics and cloud-based tools for data centres.

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