Cisco Systems Inc. is laying off about 14,000 employees, representing nearly 20 percent of the global manufacturer of the workforce of the network equipment, the technology news site CRN, citing sources close to the business.
It is expected that the California company Cisco San Jose, to announce cuts in the coming weeks, according to the report, the transition of society from its material roots in an organization focused on software.
Besides Cisco, other technology giants have announced job cuts in the face of falling PC industry in recent years, are Microsoft Corp., HP and Intel Corp. Inc
Microsoft Corp. launched one of the largest layoffs in history Tech in July 2014, after it said it will cut 18,000 jobs.
HP Inc. said in September 2015, which is expected to cut about 33,300 jobs over three years.
Intel said in April that it would cut up to 12,000 jobs worldwide, 11 percent of its workforce.
Cisco, which had more than 70,000 employees at April 30, declined to comment.
Cisco requires increasingly “different skill sets” for “future software-defined” what he did in the past, as it pushes to capture a greater share of the target market and aims to increase their margins, CRN report said citing a source familiar with the situation.
Cisco has invested in new products such as cloud-based software tools for data centers and data analysis to offset the impact of slower spending by enterprises and telecommunications carriers in its heart craft to network routers and switches.
The company has already offered many plans to package a Cisco employees early retirement, according to CRN.
Up from Tuesday’s close of $ 31.12 on the Nasdaq, shares of the company rose 15 percent this year, compared with an increase of 10.5 percent in the index of computer hardware and Dow Jones EE. UU. Technology.