Californian firm laying off staff
Cisco Systems is set to fire 20 per cent of its global workforce. In total, over 14,000 employees will be shown the door.
The Californian firm will announce the job axe within a few weeks.
According to CRN, the tech giant has already offered early retirement package plans to Cisco’s employees.
The news comes as Cisco is investing heavily in new products such as data analytics software and cloud-based tools for data centres.