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General

Cisco to lay off up to 14,000 employees - report

Wednesday 17 August 2016 | 08:34 CET | News
Cisco Systems is laying off up to 14,000 employees, representing nearly 20 percent of the company's global workforce, multiple sources close to the company told CRN. Cisco is expected to announce the cuts within the next few weeks, and many early retirement packages have already been offered to employees. The reduced workforce is driven by Cisco's transition from hardware to software-centric products. Cisco declined to comment. The company has a history of announcing layoffs at the end of its fiscal year each summer. Cisco will report fiscal Q2 results after the market close on 17 August.

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Categories: General
Companies: Cisco
Countries: World
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