Cisco Systems primed to cut a fifth of its workforce as it moves focus to cloud and software
A total of 14,000 jobs are reportedly to be cut at network hardware producer Cisco as it looks to reign in its workforce.
The California-based company is reportedly set to transition away from its network hardware production to enter software-as-a-service and Cloud-based business.
The company currently boasts over 70,000 members of staff and the reported cuts could lessen that by up to 17,000 heads according to a report from CRN.
The company has already offered retirement plans to many employees sources told the publication.
“Different skill sets” for the “software-defined future” will be required by Cisco for its transition.
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It will represent a major pivot from the company that has been producing network gear since its foundation in 1984.