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predicted it
despite all these layoffs/LRs, I feel privileged to work for Cisco. No other company in US takes care of employees like Cisco does, even during laying off employees. Even If you are part of LR/layoff, Cisco gives enough time, resources and support to find another job. So relax and enjoy your today.
Please put the Kool Aid down. You're drunk. Cisco is NOT taking care of employees. Cisco is taking care of itself. While its severance package has historically been generous in the past, they are not taking care of you or doing you any favors.
They are paying you off so that you do not sue them. There's plenty of age discrimination in the LR's, but they get away with it because they're basing it on "costs" instead of age. Well, age usually equals costs because you're paying for the greater experience. Politicians want to keep talking about wage growth and preventing wages from stagnating, but as you get older, and you get cost-of-living increases, then you become expensive and therefore get cut due to costs, but it's really about age. They can hire a younger person cheaper. They can't hire another person your age cheaper, so it's age.
But, with a decent severance package and the arbitration agreement you had to sign as a new-hire, and its army of lawyers, Cisco knows people will take the money and quietly leave rather than make waves. If you've kept your skills current, and the job market is good, then you should be able to find a job. And the companies Cisco uses to help with job placement helps, but if you've gone through their training once or twice, it's not all that helpful. It's not much more than what you get during your senior year of college from the University job placement offices. It's mostly for people who've been off the job market for so long they no longer remember how to interview or write a resume.
Oh thank you so much for working in a company where tribalism and nepotism is supreme. Thank you so much for letting me live in fear of being laid off multiple times a year. Thank you for letting me survive so many layoffs while watching other poor souls get their notice. Thank you! Thank you! Thank you! Thanks for working for the very best company. We are all so grateful.
HR or Marketing person please go away.
"despite all these layoffs/LRs, I feel privileged to work for Cisco. No other company in US takes care of employees like Cisco does, even during laying off employees. Even If you are part of LR/layoff, Cisco gives enough time, resources and support to find another job. So relax and enjoy your today."
despite all these layoffs/LRs, I feel privileged to work for Cisco. No other company in US takes care of employees like Cisco does, even during laying off employees. Even If you are part of LR/layoff, Cisco gives enough time, resources and support to find another job. So relax and enjoy your today.
the number is around 2600, so nothing as extreme as reported. In CA (and rest of US) will be in an initial round next week, and smaller rounds thereafter.
Hey, nothing as good as Europe but better than 45 days as is common outside California.
I wish 45 days was common outside of CA. Other than Cisco, every employer I've worked at gave 2 weeks notice. Some, but not many or even most, had some sort of extra severance based on longevity, but they all started with 2 weeks. Getting an extra week per year of service seems pretty stingy on the employer's part when they only give you 2 weeks to begin with.
It takes, what 15 yrs service somewhere at 2 weeks, plus 1 week for every year of service to match the minimum of 4 months that Cisco offers people (in the US) regardless of how long they've been with the company? What a kick in the teeth.
If you are laid off in California, you should know that California requires 60 days of notification when 50 or more workers in the same location are laid off. Hey, nothing as good as Europe but better than 45 days as is common outside California. See California mini-WARN for details.
I heard from my IT friend that there will be a LR in IT at the end of Feb.
Its going to be huge hence the press announcement prior to soften the blow. I do not believe Cisco likes paying WARN so I’d expect two rounds under the WARN threshold.
You don't have a clue. If it's going to be huge, then they'd have to have constant layoff separated by 31 days and impacting a maximum of 49 employees each means no more than 11 LR's per year totaling 539 employees. The cost of keeping 490 employees waiting for the 30-day period to expire so they can let the next round of 49 employees go far outweighs the cost of the severance.
According to the California WARN ACT, a site closing, layoff or relocation of 50 or more employees within a 30-day period, regardless of percentage of workforce, requires notice. Relocation is defined as a move to a different location more than 100 miles away.
Simply give them their notice & pay, give them the job relocation assistance required by hiring a third-party and wash your hands of them all at once. Quicker, cheaper, and much easier. The "stealth" layoffs are for more targeted actions and not huge cuts.
Its going to be huge hence the press announcement prior to soften the blow. I do not believe Cisco likes paying WARN so I’d expect two rounds under the WARN threshold.
I have a beer belly and can't find a way to get rid of it. I would like to get a 6-pack abs so I can look 20 years younger. Every time I walk into the interview room, the first thing they notice is my belly. I guess I drunk too much kool-aid at Cisco.
MSFT/GOOG/FB are all hiring big time. Just update your skills to current market requirements and you will be fine. Ooooooopss, if you are 40+ make sure to get in physical shape first, then tweak your resume to not reveal your "age range" as being "old".
Closer to 15k per sources in-the-know.
my gf who works in hr told me this gonna a big cut. she told me my name is not on the list.
where does the 10k come from
Well, if they are going to chop 10K this quarter, the decision to only pay 25% of the bonus makes a lot of sense. That one step will probably save somewhere around $100m.
whats special about feb 26 ?
Is this the D-day for layoffs?