Cisco Systems ready to shed nearly 20% of global workforce

Some 14,000 employees will apparently lose their jobs in the coming weeks.

Cisco Systems ready to shed nearly 20% of global workforce

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Cisco Systems is preparing to cut 14,000 jobs within the next few weeks, as the Californian network equipment maker downsizes its global workforce by almost one-fifth.

Tech news website CRN is claiming to have learnt of the cuts from sources close to the company, with an official announcement set for the coming weeks.

Cisco, which currently employs about 300 people in Ireland, is aiming to move away from its hardware roots to focus on software.

The company has declined to comment on the CRN report.

The news follows some other significant downsizing in the tech industry.

Microsoft got the trend started in July 2014 by revealing it would slash 18,000 jobs.

HP then announced in September 2015 that it anticipated it would cut 33,300 jobs over three years, while Intel confirmed in April that it was slashing 12,000 worldwide, representing 11% of its workforce.