SAN JOSE, CA [CRN] — Cisco Systems is expected to announce the cuts within the next few weeks, as many early retirement package plans have already been offered to employees, said sources. Cisco is set to announce its fourth fiscal quarter results after the market closes later today.
Cisco must retool digital tool sets for all vertical markets (such as education, healthcare, transportation, energy) with new people and new skills to become a smaller, leaner, and more agile company. Mark Haranas of CRN reports Cisco is laying off upward of 14,000 employees representing nearly 20 percent of the networking giant’s global workforce, according to multiple sources close to the company. These heavy cuts, which sources say range between 9,000 and 14,000 employees worldwide, stem from Cisco’s transition from its hardware roots into a new “software-centric” organization.