Thread regarding Cisco Systems Inc. layoffs

::: I never got caught up in following the Joneses and happily left a few very bad situations to get back to myself. :::

Having an "Eff You" fund -- enough savings that you can afford to walk away from a toxic situation -- is worth every penny.

This is amazing. I didn’t work for Cisco but did work for Oracle and stumbled upon this gem of a post. I’ve always lived a minimal life and while unemployed at the moment, can live off savings for a while. I lived off 60% of my salary for most of my life. I never got caught up in following the Joneses and happily left a few very bad situations to get back to myself. Minimal is awesome.

government dependency is a way of life. its why a degree in humanities is promoted heavily at colleges.

They want you to have no savings and depend on the government for food and housing.

It’s why they were so gleeful during Covid when you couldn’t walk on a beach for fear of being fined or arrested.

It’s your fault for allowing this to happen not because of spending habits, but because of tolerance of this type of control over your life.

Free yourself from top down control in every aspect of your life and career.

Great post!

A few possible additions:

1. Prioritize a sizeable low-risk nest egg over paying off the mortgage. If the real estate market tanks and you're underwater you're either paying mortgage or the gap between what you owe and what it's worth if you have to sell it. The 4-6 month thing is good for mild recessions but as stupidity increases the likelihood of economic collapses, pandemics and wars also increases and people need to prepare.

2. From depression era family members who saved over everything, spend wisely from time to time where you can get some real enjoyment. They'd save a trivial amount of money on something and be unhappy about what they bought for the entire time they owned it.

3. Experiences are often more fondly remembered than things and there are many experiences which don't cost a lot in many local communities.

4. You have to spend some of your personal time keeping your skills and professional network up to date. There was never a time of no tech hiring during my career but when the market tightens even those somewhat better than average skills still get washed out for long enough they can't get back into the profession.

Ted?

@sml+1u8rLB5f many people in tech also have substance problems. It's the means of coping with the stress and long hours.

I would also promote minimalism to them. mo money, mo problems.

I've always treated non-technical (non-real) jobs as a privilege, not a right. If you can DO something real, then you have (measurable) value. If you just run other people, then you're like an elected member of Congress. Your position can be taken away in an instant, and you are pretty much worthless. This is where a lot of long-term employees end up, they get promoted to a position in a management structure that has no value outside that political structure. If that's you, then get learning and cut back on your lifestyle.
ALWAYS keep a skill that has value.

Post from TheLayoff.com

I was able to walk away from a relationship that turned abusive after a decade.

I bought my house in the early 2000s. It’s small and I’ve raised two kids in it. But it’ll be paid off in a few years , god willing. Prioritizing something that we could pay for on a single income was one of my best decisions.

Many corporate people have undiagnosed mental health issues. Good luck telling someone with undiagnosed ADHD to embrace minimalism.

• > Pay down your debt as much as possible. Any disposable income should go toward paying off debt and paying extra on your mortgage principle if you own a home.

This is excellent - might I say priceless - advice. After paying down debt, and financially focusing on needs more often than wants, I was in a position to walk away from Cisco on my own terms rather than waiting on tenterhooks for the next/inevitable layoff announcement. Sadly, at Cisco, there's ALWAYS another layoff announcement.

Having little to no debt gives you more options, more choices, and a LOT less stress.

Thanks OP for sharing. It took me awhile to figure this out and I learned the hard way pretty early on. Luckily I'm debt free currently - but my wife and I were originally planning on getting a house soon since I just onboarded into CISCO a couple months back. However we're going to postpone until we figure out what happens in September. Even then, I'm not sure about my comfort level in the short term with the current state of affairs. We don't have kids yet, but we were originally planning on our first by end of 2025/beginning of 26.

Again - appreciate the sage advice and hope those train wrecks continue to dwindle in size.

One of the better posts here. Thanks OP

@qyz+1u8rLB5f

Op here. That is a good start, writing it down. A big part of my journey is journaling. I keep my notes in a place where my immediate family (current and prior) has access and can freely read and comment privately. Counseling taught me how to write things down to channel. Highly recommend.

Hopefully someone taking inventory of their life, if it is a trainwreck like mine was, and want to make changes.

PS: mine is still a trainwreck, but the trains are now toy-train sized wrecks, so can deal with them. :)

I've lived my whole life like this

Silicon Valley is the epicenter of lifestyle creep.

The simple rule is that nothing lasts forever. The money that can be made in tech is fleeting. It's fine to reward yourself for your success, but remember that you have an entire life to live, and you won't always have that nice paycheck/bonus.

Pay yourself and your future life before you buy that second Tesla.

After 2008, there was a brief moment when it seemed like our society was embracing this ideal of not living beyond your means. It was becoming acceptable and normal to life frugal, buying items used vs new was suddenly fashionable. People were downsizing their homes and vehicles. Gas guzzling SUV's were being replaced with compact fuel economy cars.

Fast forward to 2012, the economy begins to rebound. And through the wonders of marketing propaganda, the masses went right back to living outside of their means. Everyone needed the latest thing. The latest iPhone, a Tesla, etc. Low interest rates brought cheaper lines of credit. Loaning money became inexpensive. You don't have the money for something? Take out a loan, it's only 1-2% interest! Of course, until it wasn't.

I wonder how many of people driving Teslas Model S's and Cybertrucks actually own their vehicles outright without payment plans?

Sorry for your struggle, OP and great advice. A leveraged life, is not true life.

It is wise to live below your means and focus on needs not wants. If you don't have the cash to pay for it, you probably can't afford it (though sometimes you have no choice). Eat at home and bring your lunch/coffee/snacks if you work in an office. Pay down your debt as much as possible. Any disposable income should go toward paying off debt and paying extra on your mortgage principle if you own a home. Exercise. Take walks. Go to a museum. Keep up with free events happening in your area. There is sooooo much more than work and once you break the shackles of a leveraged life, life begins in earnest.

Excess rots the soul.

My rule is to throw away or sell anything that I haven't used in the last 90 days.

Following that rule some are going to behead themselves

My rule is to throw away or sell anything that I haven't used in the last 90 days.

It's a shame more people don't come to this realization sooner. This is one of those invisible stresses on the breadwinner in any family.

Lifestyle inflation will keep you under water.

BTW kids can't miss what they never get and 200 a week spending money is insane.

Yes. Making about half now of before. That was a big part of the problem. I hyped up my capabilities. Easy to do as a former Cisco politician. Technically, am ok, but not stellar. Two things: (1)-if you do not have true demonstrated technical skills, which are current, do to pursue technical jobs, and (2)-the jobs just aren't paying as they "used to". Plus, if you are in your 40s or 50s; forget it, you are now dog food to be auctioned to the highest (and few and far between) bidder.

Welcome to 2024.

Wow.. that’s tough. Did you find a job after Cisco?