Beijing time on August 17th morning news, according to foreign media reports, informed sources, CISCO will lay off 14 thousand people, accounting for about 20% of its global workforce.
insiders said that the company may announce layoffs in the next few weeks, and has provided a pension plan for employees. The layoffs may be between 9000 and 14 thousand people, mainly because CISCO is moving from a hardware company to a software based company.
"They will need different skills to define a software – based future," said
. In theory, the target market is bigger and more profitable, but it will take some time to complete the transformation."
as of April 20, 2016, the total number of employees for CISCO 73104. If the layoffs of 14 thousand people is true, it will become the largest layoffs in the history of CISCO in 32 years.
CISCO declined to comment.