Cisco Systems to lay off 14,000 employees

Cisco is laying off about 20% of its workforce. Thankfully they are offering early retirement packages. Hoping that they also offer job finding assistance to employees too.

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.

Intel said in April that it would slash up to 12,000 jobs globally, or 11 percent of its workforce.

Cisco, which had more than 70,000 employees as of April 30, declined to comment.

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.


Also published on Medium.

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