Thread regarding Cisco Systems Inc. layoffs

WFH ending in mid July. Then LR season starts.

When/where did you hear that WFH is ending in mid July? I was under the impression that Cisco hasn't give ANY dates yet.

If there is a day where everyone is magically required to come in, then watch out!

LOL. I appreciate the sentiment, but it's more accurate to say "If there is a time when people get sudden one-on-one meeting invites with no agenda, then watch out!"

Can I be LR'ed while WFH?

Yes. Why couldn't they LR you just because you're WFH? If you can work from home, you can have a meeting while at home, and when they tell you that you're being LR'd, it's just another meeting.

When I was let go, a co-worker who was also let go in the same LR was on PTO and they got a text message from our boss asking them to join the boss's WebEx personal room at some date/time where they were told they they were being let go. The boss even knew he'd have to contact this employee while he was on PTO because he had to approve the PTO request after the list came down to the managers.

How to sign the paper?

They may have to mail you your paperwork instead of handing it to you. But I was also given a copy of it in .pdf format, so they could simply email you the .pdf documents and make you print them off and sign them when the appropriate time comes. Then you simply put them in an envelope and take them to the post office, UPS or FedEx centers and mail it to the address in the document registered receipt or signature required or some other form of trackable mail.

People who are full-time remote workers, or "mobile", can be LR'd just as easily as a traditional worker, so why would working from home be any different?

Can I be LR'ed while WFH? How to sign the paper?

If there is a day where everyone is magically required to come in, then watch out!

WFH ending in mid July. Then LR season starts.

If covid19 goes on for another 2 years, does it mean no layoffs?

Yes, but it means no hiring except for business critical/essential roles. Those managers who hire their friends/family will have to work harder to bring them onboard.

If covid19 goes on for another 2 years, does it mean no layoffs?

He changed his commitment to not lay anybody off “until we’re through this” or something like that. Until we are due to go back to work or the lockdown is over. Clearly, some wriggle room there. Not sure if he’s clarified or updated it recently.

It's been 60 days

I wonder if Cisco can get a refund for the over ten billion dollars per year dumped into stock buy backs every year? Maybe the company can use this year's stock buy back money to fund keeping employees instead of laying them off? Over $10 billion pays for a lot of employees.

They have extended the US based Laid off employees, but nothing has been said for international employees laid off in this last wave, any insights?

How many LRs would 225 million prevented?

Zero.

Cisco annually budgets money to donate to causes. They have a process where they match employee donations to approved organizations. They'll just match/donate $225 M less this year and apply that $225M to the annual donation budget. Everything balances out the same, yet Cisco gets to bask in the positive press that a $225M donation generates.

Or worse, they'll claim that their revenues are down and add that $225M to the losses/slowed growth and use that as justification for additional LR's at the end of Fiscal Year 2020.

@2src+147L7tuM - can you explain why tax write-off applies now?

How many LRs would 225 million prevented?

Also he did NOT take the official pledge to not lay off employees during the crisis, while other CEOs (salesforce, Starbucks, etc) made it clear that their employees are priority 1 by taking the pledge.

I didn't see CNBC’s Mad Money, but why wouldn't he take the pledge if he's telling us that he's not going to layoff employees? I'd love to see someone ask in Tue ELT Q&A, but I'm smart enough to know that it would be a career ending question, so no one will ask it.

Damn shame he didn't publicly take the pledge.

Chuckles was on CNBC’s Mad Money tonight. Sounds like this $225 million is the value of used monitors (And maybe DX80s) lying around that they are packaging up and donating. Plus free webex services.

No actual cash for research or aid.

Also he did NOT take the official pledge to not lay off employees during the crisis, while other CEOs (salesforce, Starbucks, etc) made it clear that their employees are priority 1 by taking the pledge.

He continues to show his true colors as a horrible Exec.

Chuck did say last week (or two) that Cisco would not let anyone go for the next 60 days. That's good. He didn't make any promises beyond that. That's (possibly) bad.

Cisco is also paying the cafe & house keeping staff during the "work from home" period because they're not working (cafe workers) or working reduced hours (house keeping).

A director said in a Q & A session that those laid off back at the end of Feb had their employment extended another 60 days (til the end of May) before the original severance package kicks in so that their benefits (health care) remain active before they have to decide to take COBRA or not.

While I'm not happy about the frequent LR's, especially how they've turned into stealth LR's instead of the transparent ones where they told us how many were impacted, I do like how they're taking care of us for the duration of the pandemic.

Thank goodness we're not being treated like the Hobby Lobby employees are.

Chuck said AGAIN that they have no plans to do anything for at least 60 days. He said we won’t worry about quarters or anything. We’ll get through this first and that’s all we should be worrying about. I felt very assured by his commitment.

While companies like PayPal, Salesforce, and Visa are pledging not to lay off anyone during the pandemic.

Any response, Chuck? Chuck? Bueller? Bueller? Anyone?

(Crickets.)

while cisco doesn't pay their own employee bonuses and lays off thousands.

Truth

Great tax write off while sales slow down during the Corona crisis

The article says they’re giving 200 MM in product. I wonder how much of that is Cisco absorbing cost for offering Webex and anyconnect free till mid summer.
But while in crisis I think we should back our leaders - be it Chuck or Trump or Fauci.

Maybe Cisco will get tax credits that might help prevent laying off more people.
We are part of a community as well - and some of us are old and may be affected by covid-19 directly.
Let’s give him the benefit of doubt as the state is entering a critical street in handling this crisis. Besides he has frozen layoffs for now as well.

while cisco doesn't pay their own employee bonuses and lays off thousands.

Fire chucky ! Get a real tech leader with technical background! 225 million + 200-300 millions for layoffs in few quarters now. Stop the stock buy backs !

Fire chucky ! Get a real tech leader with technical background! 225 million + 200-300 millions for layoffs in few quarters now. Stop the stock buy backs !

@ygo+147L7tuM Of course it’s sarcasm, but in the post millennial social Internet age, it’s becoming reality.

What ever happened to the 50MM Cisco gave to combat housing issues in SJC area?

@ycp+ I hope this response is sarcasm. If you do something virtuous, live well knowing that you did something good for others. Doing it to seek approval and congratulations does not make you a better being. It shows who you truly care about. (yourself)

If you got virtue, you gotta signal it.

Every company is doing this all while waving the big announcement of LOOK HOW WE'RE HELPING!

If you want to help, that's good and fine. But all while making announcements about how you're doing it (or how you're proud that your company is doing it) is not fine.