Cisco Systems will fire up to 14,000 employees
Cisco Systems Inc is on the verge of firing approximately 14,000 employees, currently representing almost 20% of the network equipment maker's global workforce, as technology news website CRN reported, citing sources close to Cisco.
California-based Cisco, San Jose is expected to announce the cuts within the upcoming few weeks, the report told, as the company is currently shifting from its hardware roots right into a software-centric organization.
Aside from Cisco, two other huge software companies, HP Inc and Microsoft Corp have also announced job cuts in 2016.
In July, Microsoft told that it would fire approximately 2,850 jobs for the next 12 months, thus taking its total planned job cuts to about 4,700, or 4% of its workforce.
In February, HP Inc told it would cut up to 3,000 jobs by the end of fiscal 2016.
Cisco, which as of April 30, had more than 70,000 employees, refused to comment.
Cisco urgently requires different skill sets for its software-defined future than it did in the previous years, so it pushes to capture a higher share of the addressable market and tries to spur its margins.