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August 17, 2016 02:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/WOK77ANIJsU/cisco-systems-to-lay-off-about-14000-employees-representing-20-of-global-workforce
Cisco Systems To Lay Off About 14,000 Employees, Representing 20% of Global Workforce
schwit1 writes from a report via CRN: Cisco Systems is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker's global workforce. San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, the report said, as the company transitions from its hardware roots into a software-centric organization. Cisco increasingly requires "different skill sets" for the "software-defined future" than it did in the past, as it pushes to capture a higher share of the addressable market and aims to boost its margins, the CRN report said citing a source familiar with the situation. "The company's headcount as of April 20, 2016, was 73,104," reports CRN. "Cutting 14,000 employees would be the single largest layoff in Cisco's 32-year history."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/WOK77ANIJsU/cisco-systems-to-lay-off-about-14000-employees-representing-20-of-global-workforce
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