The cuts, which represent nearly 20 percent of the company’s global workforce, are expected to be announced within the next few weeks, according to CRN’s report.
CRN also says that Cisco is facing sluggish spending by telecom carriers and enterprises on network switches and routers, its main business. In response, the company has been beefing up its wireless security and datacenter businesses.
If the report is confirmed, Cisco’s layoff would be the second big tech industry layoff of a similar scale announced this year. Intel Corp said in April that it would slash up to 12,000 jobs globally, or 11 percent of its workforce.
Read some of Twitter’s reaction to the news below, and feel free to share your own thoughts in our comment section.
— Nathan Moffitt (@n_moffitt) August 17, 2016
— Olivier Miss (@olivierfroggy) August 17, 2016
— Claude Robinson III (@virtualclaude) August 17, 2016
— James Ayers (@Ayers111) August 17, 2016
— Emirates 24|7 (@Emirates247) August 17, 2016
— PGurus (@pGurus1) August 17, 2016