Cisco with biggest layoffs in company history?

It is the tech site CRN that reports that massive layoffs may await at Cisco, according to multiple sources. The cuts are expected to be announced in the coming weeks and early retirement plans have already been offered to employees, according to unnamed CRN sources. The layoffs are expected to be anywhere between 9'000 and 14'000 employees in a worldwide reorganization effort. Cisco's new software-heavy approach (as opposed to an earlier focus on hardware) has been named as reason. Cisco declined to comment, according to the paper.