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  • 08.17.16

Cisco will soon lay off about 20% of its workforce

The networking equipment giant currently employs over 73,000 globally, but up to 14,000 of those employees will be laid off, with an announcement coming in the next few weeks, sources told CRN. The layoffs represent the single biggest cut in Cisco’s workforce in the company’s 32-year history. Cisco is the largest networking equipment company in the world. Sources told CRN that the heavy cuts stem from the company’s transition from a hardware company to a more software-focused company. Cisco declined to comment on the news, but will announce its fourth fiscal quarter results tomorrow, where it may officially make the announcement of the layoffs. MG