Cisco Systems primed to cut a fifth of its workforce as it moves focus to cloud and software

A total of 14,000 jobs are reportedly to be cut at network hardware producer Cisco as it looks to reign in its workforce.
The California-based company is reportedly set to transition away from its network hardware production to enter software-as-a-service and Cloud-based business.
The company currently boasts over 70,000 members of staff and the reported cuts could lessen that by up to 17,000 heads according to a report from CRN.
The company has already offered retirement plans to many employees