Fran mentioned email notices would be sent to employees so they have notice that their jobs might be eliminated. Are people receiving these? Any idea when they are going out or if they already went out?
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At MIG all hands yesterday (SP BU), the VP announced that 82 took ER and only about 60 odd took 80%. Now, this org is about 6,000 heads, although that includes a lot of externals at outsourcers.
Given that the bottom line is 8% redux in OPEX, there is going to be a lot of blood, unless SP is somehow given a pass.
I’m told that after the call, one major part of the BU announced a bunch of new hires in Bangalore.
You join up the dots...
If you get one, will you basically stall til the LR date? When is the actual LR?
Phase 1 Pre-notification is Oct 7th, two days after the people who took the Cisco Elect Program's package's last day of employment on Oct 5th.
You will have until Oct 22 to decide if you want to take the Optional Choice Program or take a Leave of Absence. Those who took the optional LR or took a leave of absence last day is Nov 23rd.
If you decided to throw away the optional severance package, I mean gamble with actually being involuntarily impacted, the Phase 2 notification date is Dec 2. The Phase 2 Transition date, Jan 4, is your last day of employment, or the usual 30 days notice from Dec 2, and you'll get some as yet undisclosed severance package.
People keep commenting that, for NC workers, they should be happy to get notice and a package because NC is an "at will" state, but with Cisco being headquartered in CA, and giving CA workers packages that meet CA's laws, it would be a fairly reasonable argument to say you deserve the same package as the CA workers even if not required by NC law. So far, Cisco has avoided that argument by always making the packages the same across the U.S. which tells me that it's a good bet that I'd win if they decided to do away with the 60-days notice or pay in lieu of notice for NC workers. They've been setting the precedence for over a decade now.
Do I think the package will be as good as years past, no. Would I take whatever the optional package is if I'm notified that my job was at risk, hell yes. Because I don't see them saying "Oh, goodie, 80% took it so we don't have to let you remaining 20% go. I'm not so naive that I don't think they padded the list of "at risk" people with enough extra names to prevent law suits. I just think most of the padding will be newly hired people they can afford to lose if they take the optional package so they can still involuntarily impact those they really want out which are the late career workers who are expensive.
Oct 7 for those sleeping at the wheel...
If you get one, will you basically stall til the LR date? When is the actual LR?
How about you watch the Check in and know what's going on. It affects you so you should be informed.
3 more weeks to go
Oct 7th is my bday and I will take a day off. I hope my mgr wont call me at home while I celebrate my bday with family and friends.
7 Oct, an agonizing wait
Oct. 7
7th Oct??