You can delete this - however the facts don’t change.
The CSCO plan of record is to blame COVID and current policies for the layoffs.
Those are insider facts. Deleting this doesn’t change that.
33 replies (most recent on top)
Didn't management promised no layoff during COVID-19 period?
Management promises? Who keeps those? It's sort of like a politician's (pick a party, they both do it) campaign promises. They say what they think their constituents (employees/investors) want to hear.
Highly doubtful we’ll see a return of the ER. Happened last in 2011. WAAAY more people took it than expected and it cost the company a ton of $.
Nice gesture, but never happening again. Now it’s just the standard FU-Get Lost package, regardless of age
The run out is that the lists have been done, just a matter of pulling the lever...
Didn't management promised no layoff during COVID-19 period?
Employees who qualify for ER >=50 might surprise you. Most are doing what they can to fit into a youthful culture knowing age is a strike against them at Cisco and on the open market. It’s commendable if Cisco offers ER to those older workers because stats have proven it will take longer to get a job and it may be for less pay. There may not be multiple offers to choose from compared to being in your 20’s making 1/3 the pay. This isn’t always true but during a pandemic it is very commendable for Cisco to give older workers a buffer to land on their feet.
Yes, but how many current employees even qualify? Sounds like a lot of bother to have a few people get paid extra to voluntarily leave.
Chuck pledged no layoffs in April, and criticized other co's contributing to the economic downturn. Hard to see how Cisco can do a layoff in Aug, just 3 months later! But a voluntary ER program would be viewed positively https://www.sdxcentral.com/articles/news/cisco-other-tech-firms-vow-no-job-cuts/2020/04/
Early retirement is being discussed at ELT level right now. Reductions on some verticals in sales north of 15-20% budget challenges for FY21.
Earnings call on the 12th will be very interesting!!!
There will be layoffs, the industry has already started Cisco is no different.
I knew i didn't want to work at Cisco anymore the day they made me eat lunch from some stupid food truck.
treat people like adults and they will act like adults,, treat them like children and they will act like children!
Just take the money!
Make sure you learn how to download your resume on you iPhone then just lye on your couch and apply for jobs on company sites, its easy!
Typically they give notice in September and October will be their last day after 30 days to look internal. They hire lawyers and make sure that they add different age groups in the lay-off list so that they don’t get sued.
Managers use groupism and manipulate the employee ratings to save their own favorite employee. This does not happen in all the groups but it definitely exists in all the companies in Bay Area.
Question your manager what rating has he/she given you in the internal secret spreadsheet. This is not disclosed to the employee. They save a number of them on H1-B or new grads.
If you haven’t got a raise after meeting individual performance rating of 1.0 for many years, question them or talk to HR or director on why you are not getting a pay raise. Few managers are very cunning and distribute the RSUs and bonus to their own tribe.
Impressive leadership:
https://amp-cnn-com.cdn.ampproject.org/c/s/amp.cnn.com/cnn/2020/07/14/business/verizon-jobs-ceo-hans-vestberg/index.html
It’s been awfully quiet, I don’t see anymore covid and blm emails compared to May and June.
I saw the LR list. If you're a white male over 40 years, be scared.
I highly doubt you saw the list. Unless the internal HR list lists people by race, you have no way of knowing that info. Age, maybe. s-x, again, maybe.
But, I don't doubt that Cisco is targeting people over 40, 45 or 50. And men. And white men. It's all because there's a pay difference between men and women, and between whites and non-whites. So the older they get the more expensive they get and the bigger the LR target on their back gets.
If you’re group is not making the company money I would be worried.
That's true anywhere. But there's nothing stopping you from looking at internal job req's and trying to switch to a group that is making money.
Tell us something we don't already know.
Cisco typically does LRs around the end of the FY. Sad but true.
I saw the LR list. If you're a white male over 40 years, be scared.
If you’re group is not making the company money I would be worried.
Hearing the ER packages are back...!
Seems some on this post are very emotional about it. To be honest , every company has these excuses to layoff large swaths of staff. It is business as usual.
tons of new grads in my team coming on in the next few weeks. A sure sign the old folks are hanging on by a thread
Unfortunately for Cisco, they have to keep those new grads at least a year, if not two before it can start sacrificing them to offset the termination of "old folks" to avoid the age discrimination lawsuits.
How old are you? You may be one of the sacrificial lambs that is terminated along with the old guys while the new grads replace you in line to be sacrificed.
I dont care as long as my 2k RSUs keep going up, just want over 50$ so I can retire early, you guys can deal with no raises, promos and cut bonuses. Rubo got out in time, hope V2momma is out soon too, she k–led CX
@1dwe+15VXSqI7 - Contractors are NOT employees. Cisco hire the agencies and the contractors are the agencies' employees. They have no Cisco employee rights and if they expect anything is because they don't understand the rules of the game. No hiring manager can promise to hire you. They don't have the power to execute. It's well known that Cisco employees keep treating contractors as employees, making promises that they can't or won't fulfill, and that agencies are getting money without doing the expected work of an agency which is to manage the projects, the contractors and make sure the deliverables in the SOW are delivered to Cisco. However, that doesn't mean anything - contractors are NOT Cisco employees and will not be treated as such.
OP - I think u're just BSing. You bet on short for the next earnings so u're trying to lower the stock price. When there's something serious this board has a different pattern of activity. If yhr moderator deleted your posts it might mean he suspected them as bogus
Cisco has the perfect excuse , scapegoat, to do a very large downsize.
Since you have seen the plan of record, can you tell us the date?
@1dwe+15VXSqI7 tons of new grads in my team coming on in the next few weeks. A sure sign the old folks are hanging on by a thread
Who else would they sh– on?
.... Cisco can't survive long without contractors...
Oh, really?
Cisco do the right thing? Lol
Has anyone heard if the FY21 budget has been finalized yet? There's only two weeks left in FY20 and none of the contractors on my team have heard if they're being renewed yet. Their SOW's expire at the end of the quarter (7/24) so if Cisco want's to do the right thing they need to tell them now to give them at least 2 weeks notice to look for new jobs.
If CR is going to extend the severance package for those LR'd back in Feb, the least he can do is give some advanced to the contractors who do necessary work for Cisco. Cisco can't survive long without contractors to do the repetitious or low-level work unless they want to hire a bunch of inexperienced kids out of college and show them the documentation that describes how to do simple tasks.
Time will tell. August is just around the corner. The truth will be known soon.