Networking giant Cisco is said to be working on plans to reduce its headcount with the news being made official on Wednesday as it publishes its fourth quarter earnings.
Reese says that David Yen, Cisco's data center SVP would be on his way out and the layoffs would account for a fifth of Cisco's current headcount.
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If that's true, it would rank amongst one of Cisco's biggest job cull ever with potentially thousands at risk. In comparison, Cisco cut "only" 12,000 between 2011 and 2013.
Cisco is expected to post revenues of just under $47 billion (about £30 billion, AU$50 billion) down by more than 3% year on year.
Cisco share prices are still hovering near their 52-week high with the aforementioned rumours having little impact on the stock at the time of writing.