The American technology corporation is laying off more than 14,000 employees all over the world.
According to Bloomberg, this represents almost 20% of the network equipment maker’s global workforce.
The official announcement was made by Cisco’s spokesman Andrea Duffy, who refused to offer further information regarding the massive dismissals.
Recently, CEO Chuck Robbins focused on creating new cloud-based technology and changed Cisco’s traditional software–based networking and security products.
Apparently, this wasn’t the smartest move because costumers considered the old items accessible and easy to operate.
In April 2016, Cisco had 73,100 employees worldwide. Their last round of dismissals was reported in August when they discharged more than 6,000 people.
Their new strategy targets employees who possess a different skill set, focusing more on the software-centric side.
Cisco offered several early retirement packages and will announce the next large round of firings in the next weeks.
The American software company is headquartered in California and it was founded by Leonard Bosack and his ex-wife Sandy Lerner in December 1984.
Before he came up with the idea, Bosack worked in the Stanford University computer science department and his former wife was a school manager.
The name of the company is an abbreviation for the city of San Francisco and their logo represents the two towers of the Golden Gate Bridge.
In August, the software giant revealed they are taking into consideration a partnership with Springpath, a startup whose technology is used in Cisco’s HyperFlex Systems.