CISCO SYSTEMS TO LAY OFF ABOUT 14,000 EMPLOYEES
Cisco Systems Inc is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker’s global workforce, technology news site CRN reported, citing sources close to the company.
San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, the report said, as the company transition from its hardware roots into a software-centric organization. (bit.ly/2bEQfa3)
Apart from Cisco, the other tech giants, which have announced job cuts in the face of PC industry decline in recent years, are Microsoft Corp, HP Inc and Intel Corp.
Microsoft Corp kicked off one of the largest layoffs in Tech history in July 2014 after it said it would slash 18,000 jobs. (reut.rs/2aYTYzt)
HP Inc said in September 2015 that it expected to cut about 33,300 jobs over three years.