(Bloomberg) -- Cisco Systems Inc., the largest maker of networking equipment, will cut as many as 14,000 employees worldwide, or 20 percent of its workforce, CRN reported, citing people close to the company.

San Jose, California-based Cisco will announce the cuts in the next few weeks, CRN said on Tuesday, without naming its sources. Andrea Duffy, a spokeswoman for Cisco, declined to comment on the report.

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