Cisco Systems is set to layoff 5,500 employees as the hardware giant has started to face the heat , as its corporate customers are starting to rely on cloud and remote data centers for their computing needs instead of online networks maintained on their own premises.Cisco is trying to rapidly adapt to technology changes that have reduced demand for its main products.The implication of this would be that 7% of of Cisco's roughly 74,000 workers will lose their jobs.
Cisco is now focusing more on equipment tailored for large data centers and pouring more resources into software and security. The new emphasis is being orchestrated by CEO Chuck Robbins, who replaced the Cisco's long-time leader, John Chambers, nearly 13 months ago.
Cisco itself has previously laid off 6,000 workers in 2014 after letting go 4,000 employees in 2013. |
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