Cisco planning to lay off about 14,000 employees?
The lay off will represent nearly 20 percent of the company's global workforce, reports said.
The announcement on the issue is likely to be made soon.
The heavy cuts, which sources told technology news site CRN will range between 9,000 and 14,000 employees worldwide, stem from Cisco’s transition from its hardware roots into a software-centric organization.
"They need different skill sets for the software-defined future than they used to have," said one source to the website.
"In theory the addressable market could be higher and margins richer, but it will take some time to make this transition," the source told CRN.
Image: Wikimedia Commons
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